Tesla Inc (NASDAQ:TSLA) shares, rose in value, with the stock price up by 1.62% to the previous day’s close as strong demand from buyers drove the stock to $171.11.
Actively observing the price movement in the last trading, the stock closed the session at $168.38. The value of beta (5-year monthly) was 2.41 whereas the PE ratio was 39.76 over 12-month period. Referring to stock’s 52-week performance, its high was $299.29, and the low was $152.37. On the whole, TSLA has fluctuated by -5.33% over the past month.
With the market capitalization of Tesla Inc currently standing at about $544.95 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 17, 2024 – Apr 22, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.56, which is expected to increase to $0.91 for fiscal year $2.8 and then to about $3.84 by fiscal year 2025. Data indicates that the EPS growth is expected to be -3.40% in 2025, while the next year’s EPS growth is forecast to be 37.10%.
Analysts have estimated the company’s revenue for the quarter at $21.48 billion, with a low estimate of $17.44 billion and a high estimate of $24.36 billion. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $97.98 billion, representing an increase of 9.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that TSLA’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 2.60, with the price of TSLA currently trading nearly -1.15% and -7.43% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.05, while the 7-day volatility ratio is showing 3.55% which for the 30-day chart, stands at 3.91%. Furthermore, Tesla Inc (TSLA)’s beta value is 2.45, and its average true range (ATR) is 7.75.
A comparison of Tesla Inc (TSLA) with its peers suggests the former has fared considerably weaker in the market. TSLA showed an intraday change of 1.62% in last session, and over the past year, it shrunk by -12.15%%.
Data on historical trading for Tesla Inc (NASDAQ:TSLA) indicates that the trading volumes over the past 10 days have averaged 86.05 million and over the past 3 months, they’ve averaged 101.93 million. According to company’s latest data on outstanding shares, there are 3.19 billion shares outstanding.
Nearly 13.01% of Tesla Inc’s shares belong to company insiders and institutional investors own 44.71% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 102.3 million shares as on Mar 15, 2024, resulting in a short ratio of 1. According to the data, the short interest in Tesla Inc (TSLA) stood at 3.21% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 88.65 million. The stock has fallen by -31.14% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TSLA stock heading into the next quarter.
