Traders Buy Tesla (TSLA) on Weakness

Traders purchased shares of Tesla Inc (NASDAQ:TSLA) on weakness during trading hours on Monday. $428.54 million flowed into the stock on the tick-up and $394.90 million flowed out of the stock on the tick-down, for a money net flow of $33.64 million into the stock. Of all stocks tracked, Tesla had the 11th highest net in-flow for the day. Tesla traded down ($6.46) for the day and closed at $325.20

A number of equities research analysts have issued reports on the stock. Robert W. Baird reissued a “buy” rating and set a $411.00 target price on shares of Tesla in a report on Friday, September 29th. Vetr raised shares of Tesla from a “sell” rating to a “buy” rating and set a $331.07 price target on the stock in a report on Tuesday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $317.00 price target on shares of Tesla in a report on Tuesday, October 3rd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $386.00 price target on shares of Tesla in a report on Wednesday, September 27th. Finally, Instinet started coverage on shares of Tesla in a report on Wednesday, October 4th. They issued a “buy” rating and a $500.00 price target on the stock. Twelve equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $332.89.

The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.66. The stock has a market cap of $53,330.00, a PE ratio of -37.07 and a beta of 0.95.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.09) by $0.17. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue was up 29.9% on a year-over-year basis. equities research analysts predict that Tesla Inc will post -11.38 earnings per share for the current fiscal year.

In other news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $341.69, for a total transaction of $748,301.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Eric Branderiz sold 1,736 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total transaction of $589,354.64. Following the sale, the vice president now owns 1,736 shares of the company’s stock, valued at $589,354.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,817 shares of company stock valued at $4,171,699. Company insiders own 23.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Flagship Harbor Advisors LLC raised its stake in Tesla by 0.4% in the second quarter. Flagship Harbor Advisors LLC now owns 987 shares of the electric vehicle producer’s stock worth $309,000 after buying an additional 4 shares in the last quarter. Sterling Investment Advisors Ltd. raised its stake in Tesla by 2.2% in the second quarter. Sterling Investment Advisors Ltd. now owns 853 shares of the electric vehicle producer’s stock worth $308,000 after buying an additional 18 shares in the last quarter. Harfst & Associates Inc. raised its stake in Tesla by 4.9% in the second quarter. Harfst & Associates Inc. now owns 984 shares of the electric vehicle producer’s stock worth $355,000 after buying an additional 46 shares in the last quarter. Rikoon Group LLC raised its stake in Tesla by 7.8% in the second quarter. Rikoon Group LLC now owns 691 shares of the electric vehicle producer’s stock worth $249,000 after buying an additional 50 shares in the last quarter. Finally, Pittenger & Anderson Inc. raised its stake in Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after buying an additional 50 shares in the last quarter. Institutional investors own 57.12% of the company’s stock.

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Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

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