Tesla (NASDAQ:TSLA) Trading Up 1.1% – Time to Buy?

Tesla, Inc. (NASDAQ:TSLA)’s stock price rose 1.1% during mid-day trading on Wednesday . The company traded as high as $432.86 and last traded at $425.30. 39,727,640 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 58,639,047 shares. The stock had previously closed at $420.60.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s Q2 deliveries beat expectations by a wide margin, signaling stronger demand and a rebound in the company’s auto business. Reuters: Tesla posts stronger-than-expected Q2 deliveries as Europe sales improve
• Positive Sentiment: Tesla launched a new six-seat Model Y L in the U.S., which could help support sales after the loss of a key EV tax credit. Reuters: Tesla launches six-seater Model Y L in US to boost sales
• Positive Sentiment: The U.S. regulator closed its braking probe into 695,000 Tesla vehicles, reducing a safety-related overhang. Reuters: U.S. closes 2022 probe into 695,000 Tesla vehicles over unexpected braking
• Neutral Sentiment: Analysts and commentators say investors are now looking past deliveries and focusing more on Tesla’s AI, robotaxi, and autonomy story for the next leg of growth. TipRanks: Tesla’s Q2 Deliveries Beat, but Five-Star Analyst Says AI Matters More
• Neutral Sentiment: Cathie Wood’s ARK Invest bought Tesla shares during the pullback, showing some large investors are still adding to the name. TipRanks: Cathie Wood Loads Up on Tesla and SoFi Ahead of Holiday Break
• Negative Sentiment: Despite the delivery beat, Tesla shares fell as investors worried about valuation, profitability, and whether the rally had already priced in the rebound. Barron’s: Tesla Has Some ‘Cool News’ Coming Next Week—the Stock Needs It
• Negative Sentiment: Michael Burry publicly disclosed a short position in Tesla, reinforcing bearish sentiment around the stock’s valuation. Bloomberg coverage of Michael Burry’s Tesla short
• Negative Sentiment: News of Tesla’s first recorded Semi fatal crash added fresh safety concerns around the company’s vehicle lineup. Forbes: Tesla’s Electric Semi Has Its First Fatal Crash

Analyst Ratings Changes

A number of research firms recently weighed in on TSLA. Citigroup reaffirmed a “neutral” rating on shares of Tesla in a report on Tuesday, June 16th. Guggenheim assumed coverage on Tesla in a report on Monday. They set a “neutral” rating on the stock. DZ Bank upgraded Tesla from a “sell” rating to a “hold” rating and set a $385.00 target price for the company in a research note on Friday, April 24th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Tesla in a report on Wednesday, June 24th. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $403.92.

Tesla Stock Performance

The firm has a fifty day moving average of $407.27 and a 200-day moving average of $411.92. 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 P/E ratio of 360.96, a PEG ratio of 16.88 and a beta of 1.80.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same period in the prior year, the company posted $0.27 EPS. The company’s revenue was up 15.8% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the completion of 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. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the completion of the transaction, the chief financial officer owned 22,039 shares in the company, valued at $8,864,085.80. This represents a 10.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 32,015 shares of company stock valued at $12,383,640 in the last ninety days. Company insiders own 19.90% of the company’s stock.

Institutional Trading of Tesla

A number of hedge funds have recently modified their holdings of TSLA. Networth Advisors LLC bought a new stake in shares of Tesla in the 4th quarter valued at $26,000. Chapman Financial Group LLC bought a new stake in shares of Tesla in the second quarter worth about $26,000. Davidson Capital Management Inc. raised its position in shares of Tesla by 79.4% during the fourth 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. Friedenthal Financial lifted its holdings in shares of Tesla by 66.7% during the 1st quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 30 shares in the last quarter. Finally, Prism Advisors Inc. acquired a new position in shares of Tesla in the 4th quarter valued at approximately $30,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.