Tesla (NASDAQ:TSLA) Stock Price Down 0.6% – Should You Sell?

Tesla, Inc. (NASDAQ:TSLA) was down 0.6% on Monday . The stock traded as low as $380.07 and last traded at $392.36. Approximately 25,389,224 shares changed hands during trading, a decline of 66% from the average daily volume of 74,563,750 shares. The stock had previously closed at $394.74.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Guggenheim lifted their target price on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research report on Thursday, December 5th. Canaccord Genuity Group upped their price target on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a report on Monday, January 6th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $296.60.

Tesla Stock Performance

The company has a market cap of $1.27 trillion, a PE ratio of 108.59, a PEG ratio of 10.80 and a beta of 2.30. The company has a 50-day moving average of $382.71 and a 200-day moving average of $284.69. 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) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 in the last quarter. 20.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Abich Financial Wealth Management LLC grew its stake in Tesla by 168.8% in the 2nd 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 in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter valued at about $29,000. Clean Yield Group boosted its position in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Peterson Financial Group Inc. purchased a new position in Tesla during the third quarter valued at approximately $35,000. Finally, M&R Capital Management Inc. increased its holdings in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the period. Institutional investors own 66.20% of the company’s stock.

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.