Tesla, Inc. (NASDAQ:TSLA) Short Interest Update

Tesla, Inc. (NASDAQ:TSLAGet Free Report) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 67,380,000 shares, a decline of 16.6% from the December 15th total of 80,770,000 shares. Based on an average trading volume of 92,160,000 shares, the days-to-cover ratio is currently 0.7 days.

Tesla Trading Down 3.5 %

Shares of NASDAQ TSLA traded down $14.95 during midday trading on Thursday, reaching $413.27. The company had a trading volume of 38,392,115 shares, compared to its average volume of 77,185,703. The stock has a market cap of $1.33 trillion, a PE ratio of 113.22, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. Tesla has a one year low of $138.80 and a one year high of $488.54. The firm’s fifty day moving average price is $382.71 and its 200-day moving average price is $284.69. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Tesla will post 1.99 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock valued at $213,451,751 over the last ninety days. 20.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tesla

Hedge funds have recently modified their holdings of the company. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC bought a new stake in shares of Tesla in the 3rd quarter worth approximately $29,000. Clean Yield Group increased its stake in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the period. Peterson Financial Group Inc. bought a new position in shares of Tesla during the third quarter valued at approximately $35,000. Finally, M&R Capital Management Inc. boosted its holdings in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TSLA shares. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. UBS Group lifted their price objective on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a report on Monday, November 25th. The Goldman Sachs Group raised their price target on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a research note on Thursday, October 24th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $360.00 target price on shares of Tesla in a report on Thursday, January 2nd. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $299.33.

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About Tesla

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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.

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