Tesla (NASDAQ:TSLA) Shares Down 0% – Here’s What Happened

Tesla, Inc. (NASDAQ:TSLA) shares traded down 0% during trading on Tuesday . The stock traded as low as $382.13 and last traded at $383.64. 19,663,325 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 73,648,320 shares. The stock had previously closed at $383.68.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Canaccord Genuity Group boosted their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley boosted their target price on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research note on Thursday, October 24th. Evercore ISI boosted their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Finally, Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $318.31.

Tesla Stock Up 1.2 %

The business has a fifty day simple moving average of $405.12 and a 200 day simple moving average of $300.65. The firm has a market cap of $1.25 trillion, a price-to-earnings ratio of 190.32, a PEG ratio of 6.79 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts forecast that Tesla, Inc. will post 2.82 EPS for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $36,761,200. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 553,386 shares of company stock worth $196,305,796 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Hengehold Capital Management LLC boosted its position in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after buying an additional 24 shares during the period. Strategic Investment Advisors MI boosted its position in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after buying an additional 24 shares during the period. Acropolis Investment Management LLC boosted its position in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD boosted its position in shares of Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after buying an additional 25 shares during the period. Finally, Vista Finance LLC boosted its position in shares of Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after buying an additional 25 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

About Tesla

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.