Investors Buy 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 equities 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 analysts have recently weighed in on TSLA shares. RBC Capital Markets set a $210.00 price objective on Tesla Motors and gave the company a “hold” rating in a report on Thursday, July 21st. Morgan Stanley restated an “equal weight” rating and issued a $245.00 price objective on shares of Tesla Motors in a report on Thursday, July 14th. Barclays PLC set a $165.00 price objective on Tesla Motors and gave the company a “sell” rating in a report on Tuesday, July 19th. Deutsche Bank AG restated a “hold” rating and issued a $290.00 price objective on shares of Tesla Motors in a report on Monday, July 25th. Finally, Global Equities Research restated an “overweight” rating and issued a $385.00 price objective on shares of Tesla Motors in a report on Friday, July 1st. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $257.08.
The firm’s 50 day moving average price is $225.39 and its 200-day moving average price is $218.79. The firm’s market capitalization is $32.71 billion.
Tesla Motors (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by $0.55. During the same quarter in the previous year, the business posted ($0.48) earnings per share. The business earned $1.56 billion during the quarter, compared to analysts’ expectations of $1.67 billion. The firm’s revenue was up 30.5% on a year-over-year basis. Equities analysts anticipate that Tesla Motors Inc. will post ($0.84) earnings per share for the current fiscal year.
In other news, VP John Douglas Field sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $230.92, for a total value of $230,920.00. Following the transaction, the vice president now owns 12,292 shares of the company’s stock, valued at $2,838,468.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 460 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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. Calvert Investment Management Inc. boosted its stake in shares of Tesla Motors Inc. (NASDAQ:TSLA) by 24.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,729 shares of the electric vehicle producer’s stock after buying an additional 942 shares during the period. Calvert Investment Management Inc.’s holdings in Tesla Motors were worth $1,135,000 at the end of the most recent reporting period.
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.
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