Tesla (NASDAQ:TSLA) Trading Down 4% – Should You Sell?

Tesla, Inc. (NASDAQ:TSLA)’s stock price fell 4% during trading on Tuesday . The stock traded as low as $338.20 and last traded at $338.59. 95,890,899 shares were traded during trading, an increase of 0% from the average session volume of 95,798,258 shares. The stock had previously closed at $352.56.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TSLA. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research note on Thursday, October 24th. UBS Group lifted their price objective on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research note on Monday. Jefferies Financial Group lifted their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $231.06.

Tesla Trading Down 1.6 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market cap of $1.07 trillion, a price-to-earnings ratio of 91.20, a PEG ratio of 11.00 and a beta of 2.29. The business’s 50-day simple moving average is $270.63 and its 200-day simple moving average is $229.89.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. Research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock valued at $92,956,692 over the last 90 days. Insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank & Trust Co acquired a new position in Tesla during the second quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla during the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla during the third quarter worth approximately $29,000. Finally, Clean Yield Group increased its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds 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.