Short Interest in Tesla Motors Drops By 6.5% (TSLA)
Shares of Tesla Motors (NASDAQ:TSLA) were 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, AR Network reports. Based on an average daily volume of 6,774,265 shares, the short-interest ratio is currently 3.3 days. Approximately 24.8% of the company’s shares are sold short.
A number of research firms have recently commented on TSLA. Analysts at Stifel Nicolaus upgraded shares of Tesla Motors from a “hold” rating to a “buy” rating in a research note on Tuesday. They now have a $400.00 price target on the stock. Separately, 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. Finally, 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. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $255.82.
Tesla Motors (NASDAQ:TSLA) opened at 284.12 on Wednesday. Tesla Motors has a 52 week low of $116.10 and a 52 week high of $284.89. The stock’s 50-day moving average is $243.8 and its 200-day moving average is $223.8. The company’s market cap is $35.410 billion.
Tesla Motors (NASDAQ:TSLA) last released its earnings data 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 last year, the company posted $0.05 earnings per share. Tesla Motors’s revenue was up 55.3% compared to the same quarter last year. 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.
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