Tesla (NASDAQ:TSLA) Trading Up 1.2% – Time to Buy?

Tesla, Inc. (NASDAQ:TSLA) shares rose 1.2% during mid-day trading on Friday . The stock traded as high as $387.80 and last traded at $379.71. 53,081,190 shares changed hands during trading, a decline of 10% from the average daily volume of 58,921,137 shares. The stock had previously closed at $375.12.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Analysts remained constructive on Tesla’s longer-term growth story, with one Seeking Alpha piece upgrading the stock and arguing that two previously speculative “moonshots” are becoming medium-term catalysts. Tesla: 2 Moonshots Have Now Become Medium-Term Catalysts (Rating Upgrade)
• Positive Sentiment: Tesla announced expansion plans in Germany, including higher production at Gigafactory Berlin, which supports the narrative that demand is improving in Europe. Tesla Expands Production In Germany, As VW Cuts 100,000 Jobs
• Positive Sentiment: Tesla also benefited from headlines around its energy business, including a major 16-gigawatt power partnership with Sunrun and Renew Home that could strengthen Tesla Energy’s growth profile. Tesla (TSLA) Lands 16 Gigawatt U.S. Power Plant Deal And 25 Gigawatt Hour Europe Pact
• Neutral Sentiment: Elon Musk’s teaser about a highly advanced next-generation Roadster and other futuristic ambitions may support the long-term story, but it is not an immediate fundamental catalyst. Elon Musk Teases Flying Tesla Roadster With Crazy Tech
• Negative Sentiment: Tesla is facing renewed federal scrutiny after a fatal Model 3 crash, including an NHTSA probe and a separate NTSB investigation, which raises fresh concerns about Full Self-Driving safety. Tesla Under Fresh Scrutiny After Model 3 Crashes Into Home, Killing Woman
• Negative Sentiment: Tesla also settled a lawsuit tied to a fatal Full Self-Driving crash while federal investigations continue, reinforcing investor worries about legal liability and autonomy risk. Tesla settles FSD crash lawsuit as federal investigations continue
• Negative Sentiment: Several market commentaries argued that Tesla remains expensive relative to its current fundamentals, with valuation skepticism and underperformance concerns weighing on sentiment. Tesla Stock Is Having a Bad Week and an Even Worse Month

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TSLA shares. Piper Sandler reissued an “overweight” rating on shares of Tesla in a report on Wednesday, June 10th. Barclays reiterated a “neutral” rating on shares of Tesla in a research report on Wednesday, May 13th. Zacks Research raised shares of Tesla from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. China Renaissance decreased their target price on shares of Tesla from $382.00 to $372.00 and set a “hold” rating on the stock in a research report on Monday, April 27th. Finally, BNP Paribas Exane downgraded shares of Tesla from a “hold” rating to an “underperform” rating in a report on Friday, June 5th. Twenty-one research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $403.07.

Tesla Stock Performance

The stock has a market capitalization of $1.43 trillion, a PE ratio of 348.36, a PEG ratio of 15.18 and a beta of 1.80. The business’s 50 day moving average is $405.62 and its 200 day moving average is $413.17. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts predict that Tesla, Inc. will post 1.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 3,000 shares of Tesla stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the chief financial officer directly owned 18,106 shares in the company, valued at approximately $8,147,700. This trade represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director directly owned 48,399 shares of the company’s stock, valued at $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 57,824 shares of company stock worth $21,657,588 in the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Hedge funds have recently added to or reduced their stakes in the stock. Networth Advisors LLC purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $26,000. Davidson Capital Management Inc. increased its holdings in Tesla by 79.4% during the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 27 shares during the period. Turning Point Benefit Group Inc. bought a new stake in Tesla during the 3rd quarter valued at $30,000. Prism Advisors Inc. bought a new stake in Tesla during the 4th quarter valued at $30,000. Finally, Texas Capital Bancshares Inc TX purchased a new stake in shares of Tesla in the 3rd quarter worth $31,000. 66.20% of the stock is currently owned by institutional investors.

About Tesla

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.