Tesla (NASDAQ:TSLA) Stock Price Up 2.3%

Shares of Tesla, Inc. (NASDAQ:TSLA - Get Free Report) traded up 2.3% during mid-day trading on Tuesday . The company traded as high as $234.57 and last traded at $231.99. 30,566,333 shares were traded during mid-day trading, a decline of 68% from the average session volume of 96,187,539 shares. The stock had previously closed at $226.78.

Analyst Ratings Changes

Several research firms have weighed in on TSLA. Morgan Stanley reaffirmed an "overweight" rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, September 5th. Glj Research restated a "sell" rating and set a $24.86 price target on shares of Tesla in a research report on Thursday, September 5th. Wedbush reiterated an "outperform" rating and issued a $300.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Sanford C. Bernstein restated an "underperform" rating and set a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Finally, TD Cowen increased their price target on shares of Tesla from $160.00 to $180.00 and gave the stock a "hold" rating in a research note on Wednesday, July 3rd. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $209.60.

Tesla Price Performance

The firm has a 50 day moving average price of $222.16 and a 200 day moving average price of $194.93. The stock has a market capitalization of $726.72 billion, a PE ratio of 58.13, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analysts' expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. Research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company's stock, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company's stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated 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 directly owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company's stock.

Hedge Funds Weigh In On Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new position in shares of Tesla in the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $26,000. Abich Financial Wealth Management LLC boosted 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 purchasing an additional 81 shares during the period. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the 4th quarter valued at approximately $37,000. Finally, Kessler Investment Group LLC raised its holdings in Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer's stock valued at $38,000 after buying an additional 51 shares during the period. 66.20% of the stock is owned by institutional investors.

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.