Tesla Motors Sees Significant Growth in Short Interest (TSLA)
Tesla Motors (NASDAQ:TSLA) was the target of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 26,749,068 shares, an increase of 6.7% from the April 15th total of 25,075,345 shares, AmericanBankingNews.com reports. Approximately 31.5% of the company’s shares are sold short. Based on an average daily trading volume, of 6,528,782 shares, the days-to-cover ratio is currently 4.1 days.
In other Tesla Motors news, Director Kimbal Musk unloaded 4,811 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $206.43, for a total value of $993,134.73. Following the transaction, the director now directly owns 170,722 shares in the company, valued at approximately $35,242,142. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on TSLA. Analysts at JPMorgan Chase & Co. cut their price target on shares of Tesla Motors from $164.00 to $163.00 in a research note on Friday, May 9th. Separately, analysts at Goldman Sachs reiterated a “neutral” rating on shares of Tesla Motors in a research note on Thursday, May 8th. They now have a $200.00 price target on the stock. Finally, analysts at S&P upgraded shares of Tesla Motors from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $217.59.
Tesla Motors (NASDAQ:TSLA) opened at 190.62 on Thursday. Tesla Motors has a 52-week low of $83.05 and a 52-week high of $265.00. The stock has a 50-day moving average of $205.2 and a 200-day moving average of $182.7. The company’s market cap is $23.536 billion.
Tesla Motors (NASDAQ:TSLA) last announced its earnings results on Wednesday, May 7th. The company reported $0.12 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.12. The company had revenue of $713.00 million for the quarter, compared to the consensus estimate of $699.10 million. During the same quarter last year, the company posted $0.12 earnings per share. Tesla Motors’s revenue was up 26.9% compared to the same quarter last year. On average, analysts predict that Tesla Motors will post $1.21 earnings per share for the current fiscal year.
Tesla Motors, Inc (NASDAQ:TSLA) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components.
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