Tesla Motors Hits New 1-Year High at $272.00 (TSLA)
Tesla Motors (NASDAQ:TSLA)’s share price reached a new 52-week high on Friday , Analyst RN reports. The stock traded as high as $272.00 and last traded at $270.60, with a volume of 4,592,367 shares trading hands. The stock had previously closed at $263.86.
A number of research firms have recently commented on TSLA. Analysts at Credit Agricole initiated coverage on shares of Tesla Motors in a research note on Wednesday, August 20th. They set an “outperform” rating and a $300.00 price target on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Tesla Motors in a research note on Wednesday, August 13th. They set an “outperform” rating and a $324.93 price target on the stock. Finally, analysts at Deutsche Bank upgraded shares of Tesla Motors from a “hold” rating to a “buy” rating in a research note on Monday, August 11th. They now have a $310.00 price target on the stock, up previously from $220.00. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $246.81.
The stock’s 50-day moving average is $240.1 and its 200-day moving average is $222.1. The company’s market cap is $33.602 billion. Tesla Motors also was the target of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 22,555,047 shares, a decrease of 6.5% from the July 31st total of 24,128,803 shares. Currently, 24.8% of the shares of the company are sold short. Based on an average daily trading volume, of 6,774,265 shares, the short-interest ratio is presently 3.3 days.
Tesla Motors (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.04 by $0.07. The company had revenue of $857.50 million for the quarter, compared to the consensus estimate of $810.57 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 55.3% on a year-over-year basis. On average, analysts predict that Tesla Motors will post $1.07 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.