TLDR
- Tesla stock opened at $330.88 on Tuesday, down 26% year-to-date
- Q2 EPS of $0.33 missed estimates of $0.50, though revenue of $28.24B beat expectations by nearly $2B
- NHTSA announced a recall of 20,349 Model 3 and Model Y vehicles over headlight brightness issues
- Analyst consensus sits at “Hold” with an average price target of $401.74
- Generali Investments trimmed its Tesla position by 23.2% in Q2, though major holders like Vanguard and State Street maintained large stakes
Tesla stock opened at $330.88 on Tuesday, trading up just 0.1% ahead of the bell. The stock sits 26% lower for the year, well below its 52-week high of $498.83.
The 50-day moving average is $377.06, and the 200-day sits at $392.83, both well above the current price. The market cap stands at $1.31 trillion.
Tesla’s Q2 earnings, reported July 22, told a split story. Revenue came in at $28.24 billion, up 25.5% year over year and ahead of the $26.42 billion estimate.
But earnings per share of $0.33 missed the $0.50 consensus by a wide margin. That miss has weighed on the stock through the summer.
The PE ratio currently sits at 306, which raises eyebrows even among bulls. The price-to-earnings-growth ratio is 16.59, and analysts on average expect full-year EPS of $0.88.
Analyst Ratings and Price Targets
Wall Street is split. Out of 45 analysts tracked by MarketBeat, 21 rate Tesla a Buy, 19 a Hold, and four a Sell. One has a Strong Buy rating.
The average price target is $401.74, roughly 21% above current levels. Truist and Barclays both have $370 targets with Hold or Equal Weight ratings. Phillip Securities is the most bearish at $215.
Two potential catalysts could help the stock recover. Softer-than-expected CPI data on Wednesday could boost the case for the Fed to hold rates steady, which would support growth names like Tesla.
An AI breakthrough could also move the needle. Tesla is spending heavily on robotaxis, Optimus humanoid robots, and custom chips, but investors are still waiting to see returns.
Institutional Activity
Generali Investments trimmed its stake by 23.2% in Q2, selling 11,717 units and retaining 38,814 worth roughly $16.3 million. Tesla remains its eighth-largest holding at 3.5% of the portfolio.
Vanguard, the largest institutional holder, grew its position by 2.6% in Q4, bringing its total to over 258 million units. State Street and Geode Capital also added to their positions.
Retail investors have been buying too. Reports indicate around $372 million flowed into Tesla from retail traders recently, supported by longer-term optimism around AI and autonomy.
On the product side, Tesla filed plans for a $10.1 billion solar-cell factory in Texas. A six-seat Model Y variant also helped drive Tesla’s strongest July sales performance in Australia.
On Tuesday, NHTSA announced a recall of 20,349 Model 3 and Model Y vehicles over excessively bright low-beam headlights. The recall had little visible impact on the stock price.
CFO Vaibhav Taneja sold 3,000 units on May 13 at $450, totaling $1.35 million. The sale was related to tax withholding on vested equity awards. Insiders own 19.90% of the stock overall.
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