Traders Buy Shares of Tesla Motors Inc. (TSLA) on Weakness
Traders bought shares of Tesla Motors Inc. (NASDAQ:TSLA) on weakness during trading hours on Thursday. $104.93 million flowed into the stock on the tick-up and $97.87 million flowed out of the stock on the tick-down, for a money net flow of $7.06 million into the stock. Of all stocks tracked, Tesla Motors had the 22nd highest net in-flow for the day. Tesla Motors traded down ($1.66) for the day and closed at $220.96
Several research analysts have commented on the company. Vetr raised Tesla Motors from a “hold” rating to a “buy” rating and set a $231.82 price target on the stock in a research report on Wednesday. Robert W. Baird reaffirmed an “outperform” rating and issued a $338.00 price target on shares of Tesla Motors in a research report on Wednesday, August 10th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Tesla Motors in a research report on Friday, August 5th. FBN Securities lifted their price target on Tesla Motors from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $245.00 price target on shares of Tesla Motors in a research report on Wednesday, August 3rd. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Tesla Motors currently has a consensus rating of “Hold” and an average target price of $257.08.
The stock has a 50 day moving average of $225.28 and a 200 day moving average of $218.27. The firm’s market capitalization is $32.85 billion.
Tesla Motors (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by $0.55. The firm earned $1.56 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the firm posted ($0.48) EPS. The business’s revenue was up 30.5% on a year-over-year basis. Analysts predict that Tesla Motors Inc. will post ($0.84) EPS for the current fiscal year.
In related news, VP John Douglas Field sold 1,000 shares of the firm’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $230.92, for a total transaction of $230,920.00. Following the sale, the vice president now owns 12,292 shares of the company’s stock, valued at approximately $2,838,468.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 460 shares of the firm’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $224.37, for a total value of $103,210.20. Following the sale, the director now directly owns 151,865 shares in the company, valued at approximately $34,073,950.05. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Tesla Motors stock. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Tesla Motors Inc. (NASDAQ:TSLA) by 23.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,200 shares of the electric vehicle producer’s stock after buying an additional 800 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Tesla Motors were worth $1,008,000 as of its most recent filing with the SEC.
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.