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

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Glj Research restated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Friday, January 3rd. Morgan Stanley lifted their target price on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. HSBC reiterated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Finally, New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research report on Monday, January 6th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $318.31.

Tesla Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 190.32, a P/E/G ratio of 6.79 and a beta of 2.34. The company has a 50-day moving average of $405.12 and a 200-day moving average of $300.65.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate 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 research analysts expect that Tesla, Inc. will post 2.82 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 553,386 shares of company stock valued at $196,305,796 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Institutional investors have recently made changes to their positions in the stock. Transcendent Capital Group LLC purchased a new stake in Tesla during the 3rd quarter worth $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla during the 4th quarter worth $46,000. PayPay Securities Corp boosted its position in Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the period. Clean Yield Group boosted its position in Tesla by 60.0% during the 3rd 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 period. Finally, Peterson Financial Group Inc. purchased a new stake in Tesla during the 3rd quarter worth $35,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

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.