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Tesla's stock rose slightly despite lower earnings and a high P/E ratio, as institutional investors increased holdings.
Charter Oak Capital Management increased its Tesla stake by 1,200 shares to 2,144, valued at $681,000, while other institutions like Global Financial Private Client and Burns J W & Co. also adjusted holdings.
Tesla reported second-quarter earnings of $0.40 per share, slightly below expectations, with revenue down 11.8% year-over-year.
The stock traded around $416.85, with a market cap of $1.34 trillion and a high P/E ratio of 240.95. Insider sales totaled 208,606 shares worth $77.36 million in 90 days, including sales by James R. Murdoch and CFO Vaibhav Taneja.
Analysts maintain a mixed outlook, with a consensus “Hold” rating and a target price of $310.79.
The company operates in automotive and energy generation/storage segments.
Las acciones de Tesla aumentaron ligeramente a pesar de las menores ganancias y una alta relación P/E, a medida que los inversores institucionales aumentaron las tenencias.