Tesla (NASDAQ:TSLA) Shares Climb 5.5% – Still a Buy?

Tesla, Inc. (NASDAQ:TSLA) rose 5.5% during trading on Monday. The company traded as high as $382.20 and last traded at $378.05. Approximately 36,140,502 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 50,149,086 shares. The stock had previously closed at $358.22.

More Tesla News

Here’s some of the latest news about TSLA:

• Positive Sentiment: Tesla’s Texas robotaxi fleet reportedly reached 1,302 registered vehicles, exceeding Waymo’s count in the state. That bolsters the expansion story, but fleet registrations alone do not establish commercial usage or revenue. Tesla Robotaxi Overtakes Waymo in Texas
• Positive Sentiment: Elon Musk says Cybertruck production will continue through summer 2027, citing an order backlog. This suggests demand remains, though Tesla plans to redirect factory capacity toward Cybercab. Barron’s: Tesla Extends Cybertruck’s Run
• Negative Sentiment: Tesla’s October retail sales in China were reportedly the weakest since 2022, a demand concern as the company pivots toward robotaxis. Some coverage also notes that robotaxi revenue has yet to be reported, leaving execution and valuation risks in focus. Barron’s: Tesla’s China Sales Hit Lowest Since 2022

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Yorkville Ives began coverage on shares of Tesla in a report on Wednesday, October 7th. They issued an “outperform” rating and a $500.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, October 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tesla in a research note on Monday, October 19th. Jefferies Financial Group downgraded Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Deutsche Bank initiated coverage on Tesla in a research report on Monday, October 26th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Moderate Buy” and an average target price of $414.51.

Tesla Stock Up 2.9%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.39 and a current ratio of 1.74. The business’s fifty day moving average is $372.97 and its two-hundred day moving average is $383.73. The company has a market cap of $1.54 trillion, a P/E ratio of 429.48, a price-to-earnings-growth ratio of 23.42 and a beta of 1.74.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. Tesla had a return on equity of 3.03% and a net margin of 3.11%. The firm had revenue of $28.05 billion during the quarter, compared to analyst estimates of $28.06 billion. During the same period in the previous year, the company posted $0.50 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 0.67 EPS for the current year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the transaction, the chief financial officer owned 25,972 shares of the company’s stock, valued at approximately $9,353,296.36. This represents a 9.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 20.00% of the company’s stock.

Institutional Trading of Tesla

Several hedge funds have recently modified their holdings of TSLA. Legal & General Group Plc acquired a new position in Tesla in the 2nd quarter valued at about $8,535,612,000. Bank of New York Mellon Corp bought a new position in Tesla during the second quarter valued at about $6,083,630,000. Deutsche Bank AG acquired a new stake in shares of Tesla during the second quarter valued at approximately $4,039,090,000. Canada Pension Plan Investment Board purchased a new stake in Tesla in the 2nd quarter worth approximately $3,144,509,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Tesla during the 2nd quarter worth $2,995,584,000. 66.20% of the stock is owned by institutional investors and hedge funds.

About Tesla

Tesla, Inc. designs, develops, manufactures and sells electric vehicles and energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y and Cybertruck, along with related software and services. The company also provides energy generation and storage products, including solar systems, Powerwall home batteries and Megapack utility-scale storage. Its services include vehicle maintenance, charging through the Supercharger network and software features for its vehicles. Founded in 2003 and headquartered in Austin, Texas, Tesla serves customers in markets around the world.