Tesla Motors Inc. (TSLA) Sees Strong Trading Volume
Shares of Tesla Motors Inc. (NASDAQ:TSLA) saw unusually-high trading volume on Tuesday . Approximately 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.
TSLA has been the subject of several analyst reports. Dougherty & Co reissued a “buy” rating and set a $500.00 price target on shares of Tesla Motors in a report on Monday, May 9th. Vetr raised shares of Tesla Motors from a “buy” rating to a “strong-buy” rating and set a $238.54 price target for the company in a report on Monday, May 9th. Morgan Stanley reissued an “overweight” rating and set a $333.00 price target on shares of Tesla Motors in a report on Tuesday, May 10th. Deutsche Bank AG reissued a “hold” rating and set a $290.00 price target on shares of Tesla Motors in a report on Wednesday, June 22nd. Finally, Global Equities Research reissued an “overweight” rating and set a $385.00 price target on shares of Tesla Motors in a report on Sunday, July 24th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $257.08.
The company’s 50-day moving average is $225.10 and its 200-day moving average is $218.26. The company’s market cap is $33.19 billion.
Tesla Motors (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.51) by $0.55. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.67 billion. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period last year, the business posted ($0.48) earnings per share. Analysts predict that Tesla Motors Inc. will post ($0.84) EPS for the current year.
In related news, VP John Douglas Field sold 1,000 shares of Tesla Motors stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $230.92, for a total value of $230,920.00. Following the completion of the sale, the vice president now owns 12,292 shares of the company’s stock, valued at approximately $2,838,468.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 460 shares of Tesla Motors stock in a transaction on Monday, June 13th. The shares were sold at an average price of $224.37, for a total transaction of $103,210.20. Following the completion of the sale, the director now directly owns 151,865 shares of the company’s stock, 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. Calvert Investment Management Inc. raised its stake in shares of Tesla Motors Inc. (NASDAQ:TSLA) by 24.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,729 shares of the electric vehicle producer’s stock after buying an additional 942 shares during the period. Calvert Investment Management Inc.’s holdings in Tesla Motors were worth $1,135,000 at the end of the most recent quarter.
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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