Tesla (NASDAQ:TSLA) Shares Up 2.3% – Still a Buy?

Tesla, Inc. (NASDAQ:TSLA)’s stock price was up 2.3% during mid-day trading on Thursday . The company traded as high as $374.12 and last traded at $366.20. Approximately 37,862,694 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 52,598,770 shares. The stock had previously closed at $358.08.

Key Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Investor attention is shifting toward Tesla’s robotaxi and AI potential. LikeFolio reported strong growth in Tesla robotaxi activity, although Alphabet’s Waymo remains substantially ahead. The market is also focused on Tesla’s planned expansion of autonomous services and future AI-related catalysts. Ca$htag$: TSLA Robotaxi Growth Over GOOGL Very Bullish for AI Growth
• Positive Sentiment: Tesla is expanding its commercial-energy ecosystem by operating public Megacharger sites at three Forum Mobility electric-truck depots in California. The project adds 30 megawatts of heavy-duty charging capacity, with more than 330 Tesla Semis reportedly committed at one location. Tesla taps Forum Mobility for California electric-truck charging stations
• Positive Sentiment: Bulls continue to cite Tesla’s product pipeline, expanding robotaxi footprint, potential Roadster reveal on October 1 and long-term AI ambitions as reasons the stock could outperform despite its decline for the year. Prominent investor Ron Baron also reiterated a bullish view based on expected growth in full self-driving technology. Billionaire Investor Ron Baron Says the Time to Buy Tesla Stock Is Now
• Neutral Sentiment: Goldman Sachs cut its third-quarter delivery forecast to 435,000 vehicles because of demand weakness in China, the United States and Europe. Prediction-market traders remain considerably more optimistic, with estimates near 480,000, highlighting a sharp disagreement over Tesla’s near-term sales momentum. Goldman Slashes Tesla Q3 Delivery Forecast to 435,000
• Negative Sentiment: The National Highway Traffic Safety Administration ordered Tesla to answer 21 questions by September 30 regarding the Cybercab’s safety certification, including its lack of steering wheel, pedals and mirrors. Regulators could require controls, redesign work or delay broader deployment, giving Waymo more time to extend its lead. How Serious Is the Regulatory Threat Now Facing Tesla’s Cybercab?
• Negative Sentiment: BYD’s record sales and Tesla’s vehicle-price reduction in China underscore intensifying competition and potential pressure on margins. Critics also point to reports of slow Cybercab progress and a widening operational gap with Waymo, while a robotaxi-related fatality adds to safety concerns. BYD Just Reported Record Monthly Sales

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TSLA shares. Truist Financial set a $370.00 target price on Tesla and gave the stock a “hold” rating in a report on Thursday, July 23rd. Guggenheim initiated coverage on shares of Tesla in a research note on Monday, June 29th. They set a “neutral” rating on the stock. BMO Capital Markets initiated coverage on shares of Tesla in a report on Monday, August 17th. They issued an “outperform” rating for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft set a $420.00 price objective on shares of Tesla in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $412.25.

Tesla Price Performance

The stock has a market capitalization of $1.45 trillion, a P/E ratio of 339.03, a price-to-earnings-growth ratio of 18.66 and a beta of 1.84. The business’s 50 day simple moving average is $350.84 and its two-hundred day simple moving average is $380.12. The company has a quick ratio of 1.55, a current ratio of 1.94 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.17). Tesla had a return on equity of 3.82% and a net margin of 3.67%.The business had revenue of $28.24 billion for the quarter, compared to the consensus estimate of $26.42 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. The company’s revenue was up 25.5% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla, Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total value of $938,498.78. Following the transaction, the chief financial officer owned 25,972 shares in the company, valued at $9,353,296.36. This trade represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 19.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Tesla by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock worth $29,426,070,000 after purchasing an additional 375,946 shares in the last quarter. Norges Bank purchased a new position in shares of Tesla in the 4th quarter worth approximately $17,128,100,000. Corient Private Wealth LLC grew its holdings in shares of Tesla by 3,205.5% in the fourth quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock valued at $9,650,811,000 after acquiring an additional 20,810,386 shares in the last quarter. Legal & General Group Plc increased its position in shares of Tesla by 5.5% during the fourth quarter. Legal & General Group Plc now owns 20,181,227 shares of the electric vehicle producer’s stock valued at $9,075,901,000 after acquiring an additional 1,043,213 shares during the last quarter. Finally, Amundi lifted its holdings in Tesla by 14.0% during the first quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer’s stock worth $8,243,513,000 after acquiring an additional 2,727,141 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Company Profile

Tesla, Inc is an American technology and automotive company that designs, develops, manufactures and sells electric vehicles and related energy products. Its vehicle lineup has included the Model S, Model 3, Model X, Model Y and Cybertruck, along with commercial and specialty products such as the Tesla Semi.

The company also develops energy-generation and storage products, including solar panels, solar roofing systems and battery storage solutions for residential, commercial and utility customers.