Tesla (NASDAQ:TSLA) Stock Price Down 1.1% - What's Next?

Shares of Tesla, Inc. (NASDAQ:TSLA - Get Free Report) dropped 1.1% during mid-day trading on Monday . The stock traded as low as $213.74 and last traded at $215.41. Approximately 36,009,980 shares changed hands during trading, a decline of 62% from the average daily volume of 94,943,219 shares. The stock had previously closed at $217.80.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent research reports. Oppenheimer reiterated a "market perform" rating on shares of Tesla in a report on Tuesday, October 8th. Piper Sandler lifted their target price on shares of Tesla from $300.00 to $310.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. Barclays dropped their price objective on shares of Tesla from $225.00 to $220.00 and set an "equal weight" rating on the stock in a report on Thursday, July 25th. Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They set a "peer perform" rating for the company. Finally, KGI Securities reiterated a "neutral" rating and set a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Tesla currently has an average rating of "Hold" and a consensus target price of $210.72.

Tesla Trading Up 0.6 %

The stock has a market cap of $698.94 billion, a P/E ratio of 56.05, a P/E/G ratio of 6.48 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. The company has a 50-day moving average price of $225.43 and a two-hundred day moving average price of $203.96.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 company had revenue of $25.50 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $0.78 EPS. On average, research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 8,000 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company's stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company's stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tesla

Hedge funds and other institutional investors have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Tesla by 60.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer's stock worth $108,638,000 after buying an additional 206,248 shares in the last quarter. Morse Asset Management Inc grew its position in shares of Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer's stock worth $1,181,000 after buying an additional 3,462 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer's stock worth $7,013,000 after buying an additional 1,943 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Tesla by 12.9% during the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer's stock worth $46,858,000 after buying an additional 27,130 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Tesla during the 1st quarter worth $1,941,000. 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.