Tesla, Inc. (NASDAQ:TSLA – Get Free Report) was down 7.5% during mid-day trading on Thursday . The stock traded as low as $389.30 and last traded at $393.45. 71,879,953 shares traded hands during trading, an increase of 22% from the average daily volume of 58,747,934 shares. The stock had previously closed at $425.30.
More Tesla News
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla reported Q2 deliveries of 480,126 vehicles, well above Wall Street expectations, reinforcing that demand rebounded strongly in the quarter. Reuters: Tesla posts stronger-than-expected Q2 deliveries as Europe sales improve
- Positive Sentiment: China-made EV sales rose 24.4% in June, extending Tesla’s recovery in key overseas markets and suggesting improving international momentum. Reuters: Tesla’s China-made EV sales rise 24.4% year on year in June
- Positive Sentiment: The National Highway Traffic Safety Administration closed its probe into Tesla’s braking issue, removing one regulatory overhang and indicating the problem was deemed low risk and addressed through software updates. Reuters: U.S. closes 2022 probe into 695,000 Tesla vehicles over unexpected braking
- Positive Sentiment: Tesla launched a new six-seat Model Y variant, adding a fresh product angle that could help support demand. Article: Tesla Launches New Six-Seat Model Y Electric Vehicle
- Neutral Sentiment: Analysts remain mixed: Morgan Stanley and Truist raised their price targets, but ratings stayed cautious, reflecting a balance between stronger deliveries and valuation concerns. Benzinga analyst notes
- Negative Sentiment: Shares are also being hit by a classic “sell-the-news” reaction after a big pre-report run-up, with investors looking past the delivery beat and toward future margin pressure. Quiver Quantitative: Tesla Slides Despite Strong Q2 Deliveries
- Negative Sentiment: Michael Burry disclosed a new short position in Tesla, adding to bearish sentiment around the stock’s already rich valuation and long-term execution risk. Benzinga: Big Short Investor Michael Burry Reveals Tesla, Nvidia Shorts
- Negative Sentiment: A fatal crash involving a Tesla Semi and fresh safety headlines are keeping investor attention on Tesla’s broader vehicle safety profile. Forbes: Tesla’s Electric Semi Has Its First Fatal Crash
Analyst Upgrades and Downgrades
Several research firms have recently commented on TSLA. Jefferies Financial Group boosted their price target on Tesla from $350.00 to $375.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. William Blair reiterated a “market perform” rating on shares of Tesla in a research note on Thursday. Guggenheim started coverage on shares of Tesla in a report on Monday. They issued a “neutral” rating for the company. HSBC restated a “hold” rating on shares of Tesla in a report on Monday, June 15th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Tesla in a research report on Monday. Twenty-one analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $403.92.
Tesla Price Performance
The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.48 trillion, a PE ratio of 360.96, a price-to-earnings-growth ratio of 16.72 and a beta of 1.80. The stock has a 50 day moving average price of $407.13 and a two-hundred day moving average price of $412.38.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The firm had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same period last year, the firm posted $0.27 EPS. Tesla’s revenue was up 15.8% on a year-over-year basis. As a group, equities analysts expect that Tesla, Inc. will post 1.2 earnings per share for the current year.
Insiders Place Their Bets
In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer owned 22,039 shares of the company’s stock, valued at approximately $8,864,085.80. The trade was a 10.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the sale, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,015 shares of company stock worth $12,383,640 over the last three months. Corporate insiders own 19.90% of the company’s stock.
Institutional Investors Weigh In On Tesla
Large investors have recently bought and sold shares of the company. Networth Advisors LLC purchased a new position in shares of Tesla during the fourth quarter worth $26,000. Davidson Capital Management Inc. grew its position in Tesla by 79.4% during the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 27 shares during the period. Turning Point Benefit Group Inc. purchased a new position in shares of Tesla during the 3rd quarter valued at about $30,000. Prism Advisors Inc. acquired a new position in shares of Tesla in the 4th quarter valued at about $30,000. Finally, Texas Capital Bancshares Inc TX purchased a new stake in shares of Tesla in the third quarter worth about $31,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.
About Tesla
Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.
Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.
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