Tesla (NASDAQ:TSLA) Releases Earnings Results, Misses Expectations By $0.08 EPS

Tesla (NASDAQ:TSLA) posted its quarterly earnings results on Wednesday. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08), Zacks reports. Tesla had a net margin of 13.07% and a return on equity of 10.24%.

Tesla Price Performance

NASDAQ:TSLA traded down $8.99 during mid-day trading on Wednesday, reaching $389.10. 58,807,916 shares of the stock were exchanged, compared to its average volume of 73,001,117. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average price of $401.04 and a 200 day moving average price of $296.63. Tesla has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market capitalization of $1.25 trillion, a PE ratio of 106.60, a PEG ratio of 8.42 and a beta of 2.30.

Insider Activity

In related news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 617,886 shares of company stock worth $212,451,751. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TSLA. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research report on Monday, January 6th. Truist Financial reiterated a “hold” rating and set a $360.00 target price on shares of Tesla in a report on Thursday, January 2nd. Piper Sandler increased their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a research note on Friday, January 3rd. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $313.84.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.