Tesla (NASDAQ:TSLA) Stock Price Down 4.1%

Tesla, Inc. (NASDAQ:TSLA) was down 4.1% during mid-day trading on Friday . The company traded as low as $220.05 and last traded at $220.74. Approximately 39,887,012 shares traded hands during trading, a decline of 59% from the average daily volume of 97,108,469 shares. The stock had previously closed at $230.17.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TSLA shares. Royal Bank of Canada decreased their target price on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a report on Monday, July 1st. Wolfe Research started coverage on shares of Tesla in a report on Thursday. They issued a “peer perform” rating for the company. Finally, Truist Financial reaffirmed a “hold” rating and issued a $215.00 price objective on shares of Tesla in a report on Wednesday, August 14th. Nine equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $204.21.

Tesla Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a market cap of $685.74 billion, a PE ratio of 55.42, a PEG ratio of 5.55 and a beta of 2.29. The firm’s 50 day moving average is $224.21 and its 200-day moving average is $193.52.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 25.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Several large investors have recently made changes to their positions in TSLA. Bank & Trust Co acquired a new position in shares of Tesla in the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla in the 4th quarter worth approximately $37,000. Finally, Kessler Investment Group LLC lifted its holdings in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 51 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.