Tesla (NASDAQ:TSLA) Shares Up 8.5% – Should You Buy?

Shares of Tesla, Inc. (NASDAQ:TSLA) were up 8.5% during trading on Monday . The company traded as high as $413.27 and last traded at $411.84. Approximately 56,982,164 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 58,858,590 shares. The stock had previously closed at $379.71.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s FSD v14 Lite rollout improved sentiment around its autonomy roadmap and gave bulls a tangible product milestone to point to. Tesla Stock Surges 15% as FSD Update Backs Its Autonomy Thesis
• Positive Sentiment: European registrations climbed in June, supporting the case for a Q2 delivery rebound. Tesla European registrations climb in June
• Positive Sentiment: Analysts and commentators are expecting Q2 deliveries to rise, which could extend the recent rally if Tesla meets or beats estimates. Tesla Stock Faces Q2 Deliveries Test — Here’s What Investors Should Expect
• Neutral Sentiment: Deutsche Bank reiterated a Buy rating, reinforcing a constructive but still valuation-sensitive view on the stock. Tesla buy rating from Deutsche Bank
• Negative Sentiment: Michael Burry disclosed fresh short positions against Tesla, adding a high-profile bearish headline around valuation and execution risk. Big Short Investor Michael Burry Reveals Tesla, Nvidia Shorts
• Negative Sentiment: Reports that BYD may again surpass Tesla in fully electric vehicle sales underline growing competition in EVs. BYD set to again overtake Tesla as top electric car seller

Analysts Set New Price Targets

A number of research firms recently weighed in on TSLA. Roth Mkm reaffirmed a “buy” rating on shares of Tesla in a research report on Thursday, April 23rd. TD Cowen restated a “buy” rating on shares of Tesla in a research note on Monday. China Renaissance decreased their price objective on Tesla from $382.00 to $372.00 and set a “hold” rating for the company in a report on Monday, April 27th. Canaccord Genuity Group lifted their target price on Tesla from $420.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Bank of America initiated coverage on Tesla in a report on Wednesday, March 4th. They set a “buy” rating and a $460.00 target price on the stock. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $403.07.

Tesla Price Performance

The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 390.69, a P/E/G ratio of 16.37 and a beta of 1.80. The company’s 50 day moving average is $406.47 and its 200-day moving average is $412.53.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The firm had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 1.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the sale, the chief financial officer owned 18,106 shares in the company, valued at approximately $8,147,700. This represents a 14.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the sale, the director directly owned 48,399 shares of the company’s stock, valued at $18,300,145.89. This represents a 35.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,015 shares of company stock worth $12,383,640 over the last three months. 19.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TSLA. Networth Advisors LLC bought a new position in shares of Tesla during the fourth quarter worth approximately $26,000. Davidson Capital Management Inc. grew its holdings in Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 27 shares in the last quarter. Turning Point Benefit Group Inc. acquired a new position in Tesla in the 3rd quarter valued at $30,000. Prism Advisors Inc. bought a new position in Tesla during the 4th quarter worth $30,000. Finally, Texas Capital Bancshares Inc TX acquired a new stake in shares of Tesla during the third quarter worth $31,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Company Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.