Tesla (NASDAQ:TSLA) Stock Price Down 5.5%

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Tesla Inc (NASDAQ:TSLA)’s share price was down 5.5% during mid-day trading on Wednesday . The stock traded as low as $216.69 and last traded at $222.16, approximately 7,545,557 shares changed hands during trading. A decline of 22% from the average daily volume of 9,651,923 shares. The stock had previously closed at $235.00.

Several equities research analysts recently issued reports on TSLA shares. Roth Capital reaffirmed a “neutral” rating and set a $238.00 price target on shares of Tesla in a report on Monday, July 22nd. Piper Jaffray Companies reiterated an “overweight” rating and set a $396.00 target price on shares of Tesla in a research report on Friday, June 7th. UBS Group set a $160.00 target price on shares of Tesla and gave the stock a “sell” rating in a research report on Thursday, July 25th. JMP Securities dropped their price target on shares of Tesla to $337.00 in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. set a $200.00 price target on shares of Tesla and gave the stock a “sell” rating in a research report on Thursday, July 25th. Eighteen equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $269.53.

The company has a current ratio of 1.06, a quick ratio of 0.71 and a debt-to-equity ratio of 1.71. The firm’s 50-day simple moving average is $237.19. The company has a market cap of $42.10 billion, a P/E ratio of -38.84 and a beta of 0.60.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.55) by ($0.76). Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the previous year, the firm earned ($3.06) EPS. The firm’s revenue was up 58.7% on a year-over-year basis. As a group, research analysts predict that Tesla Inc will post -7.51 EPS for the current fiscal year.

In other Tesla news, Director Antonio J. Gracias sold 33,766 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $180.35, for a total transaction of $6,089,698.10. Following the completion of the sale, the director now owns 14,232 shares in the company, valued at approximately $2,566,741.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Zachary Kirkhorn sold 150 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $255.68, for a total transaction of $38,352.00. Following the sale, the chief financial officer now owns 9,962 shares of the company’s stock, valued at approximately $2,547,084.16. The disclosure for this sale can be found here. Insiders have sold a total of 117,456 shares of company stock valued at $24,587,180 in the last 90 days. 24.40% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Regentatlantic Capital LLC boosted its holdings in shares of Tesla by 4.7% in the 2nd quarter. Regentatlantic Capital LLC now owns 994 shares of the electric vehicle producer’s stock worth $222,000 after buying an additional 45 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its holdings in shares of Tesla by 5.5% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 958 shares of the electric vehicle producer’s stock worth $268,000 after buying an additional 50 shares during the last quarter. Prio Wealth Limited Partnership boosted its holdings in shares of Tesla by 6.0% in the 1st quarter. Prio Wealth Limited Partnership now owns 880 shares of the electric vehicle producer’s stock worth $246,000 after buying an additional 50 shares during the last quarter. Clarus Wealth Advisors lifted its holdings in Tesla by 83.3% during the second quarter. Clarus Wealth Advisors now owns 110 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Finally, BB&T Securities LLC lifted its holdings in Tesla by 1.4% during the second quarter. BB&T Securities LLC now owns 3,560 shares of the electric vehicle producer’s stock valued at $795,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 54.88% of the company’s stock.

About Tesla (NASDAQ:TSLA)

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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