Tesla, Inc. (NASDAQ:TSLA – Get Free Report) shares traded up 1% during mid-day trading on Monday. The company traded as high as $414.23 and last traded at $403.82. Approximately 42,530,243 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 50,249,910 shares. The stock had previously closed at $399.81.
Trending Headlines about Tesla
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla expanded its robotaxi service to Fort Worth, extending a still-early rollout beyond Austin. The move supports the autonomy growth story, though the service has not yet shown meaningful profitability. Robotaxi service expands to Fort Worth
- Positive Sentiment: Tesla’s goal of building up to one million Optimus robots in 2027 points to a potential growth opportunity in robotics, although the plan remains an execution challenge. Tesla’s Optimus production plans
- Neutral Sentiment: Tesla reported a 10.3% year-over-year increase in China-made EV sales in October, but another report noted that wholesale sales fell sequentially. The mixed signals make it unclear whether demand is strengthening. Tesla China-made EV sales
- Negative Sentiment: Democratic election victories raised investor concerns about increased oversight of AI, data centers and Musk-linked projects, as well as uncertainty around a possible Tesla–SpaceX merger. Musk’s political involvement may also bring added scrutiny. Tesla and SpaceX shares slide after election results
- Negative Sentiment: A South Korean consumer group alleged Tesla misled customers about its automated-driving technology, creating potential legal and reputational risk. South Korean consumer group allegation
- Negative Sentiment: Reports also highlighted rising spending and margin pressure: Polen Capital said Tesla detracted from its large-growth strategy, with record revenue not offsetting investor concerns about costs and profitability. Tesla weighs on Polen Capital’s strategy
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. Wells Fargo & Company reaffirmed a “buy” rating on shares of Tesla in a research report on Thursday, October 1st. Barclays raised shares of Tesla from an “outperform” rating to an “overweight” rating and lifted their price objective for the stock from $370.00 to $450.00 in a research report on Monday, October 26th. Glj Research restated a “sell” rating on shares of Tesla in a research note on Thursday, October 22nd. Citizens Jmp initiated coverage on shares of Tesla in a report on Thursday, July 9th. They issued a “market perform” rating on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Tesla in a report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Moderate Buy” and an average price target of $414.51.
Get Our Latest Stock Analysis on Tesla
Tesla Stock Down 3.3%
The stock has a fifty day simple moving average of $372.12 and a two-hundred day simple moving average of $385.12. The firm has a market cap of $1.52 trillion, a PE ratio of 545.89, a price-to-earnings-growth ratio of 24.68 and a beta of 1.74. The company has a current ratio of 1.74, a quick ratio of 1.39 and a debt-to-equity ratio of 0.09.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The company had revenue of $28.05 billion during the quarter, compared to analyst estimates of $28.06 billion. During the same period last year, the business earned $0.50 earnings per share. Tesla’s revenue was down .2% compared to the same quarter last year. As a group, sell-side analysts expect that Tesla, Inc. will post 0.67 EPS for the current fiscal year.
Insider Activity
In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the completion of the sale, the chief financial officer owned 25,972 shares of the company’s stock, valued at approximately $9,353,296.36. This trade represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 20.00% of the company’s stock.
Institutional Trading of Tesla
Several institutional investors and hedge funds have recently modified their holdings of the business. Peirce Capital Management LLC raised its stake in shares of Tesla by 1.5% during the second quarter. Peirce Capital Management LLC now owns 1,657 shares of the electric vehicle producer’s stock worth $697,000 after acquiring an additional 25 shares in the last quarter. Cadence Wealth Management LLC grew its holdings in shares of Tesla by 4.7% during the 1st quarter. Cadence Wealth Management LLC now owns 580 shares of the electric vehicle producer’s stock valued at $216,000 after purchasing an additional 26 shares during the last quarter. Phillip James Consulting Co. raised its position in Tesla by 8.7% in the 1st quarter. Phillip James Consulting Co. now owns 326 shares of the electric vehicle producer’s stock worth $121,000 after purchasing an additional 26 shares during the period. Crumly & Associates Inc. raised its position in Tesla by 0.6% in the 2nd quarter. Crumly & Associates Inc. now owns 4,698 shares of the electric vehicle producer’s stock worth $1,976,000 after purchasing an additional 26 shares during the period. Finally, Brickley Wealth Management lifted its stake in Tesla by 3.6% in the second quarter. Brickley Wealth Management now owns 757 shares of the electric vehicle producer’s stock worth $318,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.
About Tesla
Tesla, Inc is an electric vehicle and clean energy company headquartered in Austin, Texas. Founded in 2003, the company designs, manufactures and sells electric vehicles, including the Model S, Model 3, Model X, Model Y and Cybertruck. Tesla also develops vehicle software, driver-assistance features and related services intended to support the operation and ownership of its vehicles.
Beyond automobiles, Tesla produces energy storage products for residential, commercial and utility-scale applications, including the Powerwall and Megapack.
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