Tesla Motors Inc. (TSLA) Sees Strong Trading Volume
Tesla Motors Inc. (NASDAQ:TSLA) shares saw an uptick in trading volume on Tuesday . 2,422,419 shares were traded during trading, a decline of 9% from the previous session’s volume of 2,648,610 shares.The stock last traded at $226.38 and had previously closed at $222.93.
Several research firms recently issued reports on TSLA. Robert W. Baird reiterated a “buy” rating and set a $300.00 price target on shares of Tesla Motors in a research report on Saturday, April 30th. Deutsche Bank AG reiterated a “hold” rating and set a $290.00 price target (up previously from $280.00) on shares of Tesla Motors in a research report on Tuesday, May 3rd. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $250.00 price target (up previously from $245.00) on shares of Tesla Motors in a research report on Thursday, May 5th. Royal Bank Of Canada reiterated a “hold” rating on shares of Tesla Motors in a research report on Saturday, July 9th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $385.00 price target (up previously from $222.56) on shares of Tesla Motors in a research report on Thursday, May 5th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $256.94.
The company’s market cap is $33.43 billion. The firm’s 50-day moving average price is $224.86 and its 200-day moving average price is $218.22.
Tesla Motors (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by $0.55. During the same period in the prior year, the company posted ($0.48) EPS. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.67 billion. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. On average, equities analysts anticipate that Tesla Motors Inc. will post ($0.84) EPS for the current year.
In other news, CEO Elon Musk sold 2,782,670 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $213.22, for a total transaction of $593,320,897.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 460 shares of the firm’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $224.37, for a total transaction of $103,210.20. Following the sale, the director now directly owns 151,865 shares in the company, valued at approximately $34,073,950.05. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Tesla Motors stock. Cornerstone Capital Management Holdings LLC. raised its position in Tesla Motors Inc. (NASDAQ:TSLA) by 23.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,200 shares of the electric vehicle producer’s stock after buying an additional 800 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Tesla Motors were worth $1,008,000 as of its most recent SEC filing.
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
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