Tesla (NASDAQ:TSLA) Shares Down 1.8% on Disappointing Earnings

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) traded down 1.8% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $390.65 and last traded at $390.86. 14,591,859 shares were traded during mid-day trading, a decline of 79% from the average session volume of 70,774,664 shares. The stock had previously closed at $398.09.

The electric vehicle producer reported $0.66 earnings per share (EPS) 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Tesla from $130.00 to $135.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. Evercore ISI lifted their price objective on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a research note on Friday, January 3rd. Piper Sandler increased their target price on Tesla from $315.00 to $500.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Glj Research restated a "sell" rating and issued a $24.86 price target on shares of Tesla in a research report on Friday, January 3rd. Finally, Truist Financial lifted their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a "hold" rating in a research note on Thursday. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $318.31.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred 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 owns 5,400 shares of the company's stock, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company's stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 553,386 shares of company stock valued at $196,305,796. Company insiders own 20.70% of the company's stock.

Hedge Funds Weigh In On Tesla

Large investors have recently made changes to their positions in the business. Lloyd Advisory Services LLC. acquired a new stake in shares of Tesla in the 4th quarter worth $220,000. Eubel Brady & Suttman Asset Management Inc. acquired a new stake in Tesla in the fourth quarter worth about $291,000. Blackston Financial Advisory Group LLC raised its position in shares of Tesla by 1.3% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer's stock valued at $875,000 after purchasing an additional 27 shares during the last quarter. Capital Advisory Group Advisory Services LLC boosted its stake in Tesla by 10.6% in the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 2,774 shares of the electric vehicle producer's stock worth $1,120,000 after purchasing an additional 266 shares in the last quarter. Finally, Lane & Associates LLC grew its position in Tesla by 29.2% during the 4th quarter. Lane & Associates LLC now owns 1,496 shares of the electric vehicle producer's stock worth $605,000 after purchasing an additional 338 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

The stock's 50 day simple moving average is $404.22 and its 200-day simple moving average is $299.70. 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 firm has a market cap of $1.23 trillion, a price-to-earnings ratio of 188.19, a price-to-earnings-growth ratio of 6.79 and a beta of 2.34.

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.