Tesla (NASDAQ:TSLA) Trading 11.8% Higher – Still a Buy?

by · The Markets Daily

Shares of Tesla, Inc. (NASDAQ:TSLA – Get Free Report) were up 11.8% on Wednesday . The stock traded as high as $289.59 and last traded at $281.01. Approximately 82,392,016 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 93,890,250 shares. The stock had previously closed at $251.44.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Piper Sandler upped their price objective on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Canaccord Genuity Group raised their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research note on Thursday, October 24th. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research note on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $219.45.

Get Our Latest Stock Report on TSLA

Tesla Stock Performance

The company’s 50-day moving average is $237.23 and its two-hundred day moving average is $213.07. The company has a market capitalization of $926.20 billion, a P/E ratio of 79.05, a PEG ratio of 8.01 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock worth $19,211,821 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

A number of institutional investors have recently made changes to their positions in TSLA. Transcendent Capital Group LLC bought a new stake in shares of Tesla in the third quarter worth about $29,000. Bank & Trust Co purchased a new stake in Tesla in the 2nd quarter worth approximately $25,000. Clean Yield Group grew its position in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC increased its stake in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Finally, Valley Wealth Managers Inc. bought a new position in shares of Tesla during the second quarter valued at approximately $26,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

(Get Free Report)

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.

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