Tesla (NASDAQ:TSLA) Trading 1.7% Higher – Here’s What Happened

Tesla, Inc. (NASDAQ:TSLA) shot up 1.7% during mid-day trading on Thursday . The stock traded as high as $454.63 and last traded at $454.53. 70,943,611 shares were traded during mid-day trading, a decline of 29% from the average session volume of 99,491,500 shares. The stock had previously closed at $446.74.

Analyst Ratings Changes

TSLA has been the topic of several analyst reports. Roth Capital set a $505.00 target price on Tesla and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Cowen restated a “buy” rating on shares of Tesla in a research report on Monday, November 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research report on Thursday, October 23rd. BNP Paribas Exane started coverage on shares of Tesla in a research note on Thursday, October 16th. They set an “underperform” rating and a $307.00 target price for the company. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $398.92.

Tesla Trading Up 0.1%

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The business has a fifty day moving average of $434.93 and a 200-day moving average of $372.41. The stock has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 303.33, a price-to-earnings-growth ratio of 15.36 and a beta of 1.87.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 82,606 shares of company stock worth $33,554,102. 19.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Tesla

A number of institutional investors have recently bought and sold shares of TSLA. Norges Bank acquired a new position in Tesla in the 2nd quarter valued at approximately $11,839,824,000. Nuveen LLC acquired a new position in shares of Tesla in the first quarter worth $3,247,619,000. Kingstone Capital Partners Texas LLC raised its holdings in shares of Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after acquiring an additional 6,435,598 shares in the last quarter. Vanguard Group Inc. boosted its position in Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after purchasing an additional 4,502,976 shares during the last quarter. Finally, Amundi grew its stake in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.