The trading price of Tesla Inc. (NASDAQ:TSLA) closed higher on Monday, February 06, closing at $194.76, 2.52% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $189.92 and $198.17. The company’s P/E ratio in the trailing 12-month period was 53.73, while its 5Y monthly beta was 2.13. In examining the 52-week price action we see that the stock hit a 52-week high of $384.29 and a 52-week low of $101.81. Over the past month, the stock has gained 76.51% in value.
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Tesla Inc., whose market valuation is $610.69 billion at the time of this writing, is expected to release its quarterly earnings report Apr 18, 2023 – Apr 24, 2023. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $1.25 per share this quarter, however they have predicted annual earnings per share of $4.09 for 2022 and $5.61 for 2023. It means analysts are expecting annual earnings per share growth of 81.00% this year and 37.20% next year.
Analysts have forecast the company to bring in revenue of $26.16 billion for the current quarter, with the likely lows of $21.27 billion and highs of $29.43 billion. The average estimate suggests sales will likely up by 47.60% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $83.52 billion. The company’s revenue is forecast to grow by 55.20% over what it did in 2022.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Tesla Inc. 3 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest TSLA has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned TSLA a recommendation rating is 46. Out of them, 11 rate it a Hold, while 26 recommend Buy, whereas 4 assign an Overweight rating. 1 analyst(s) have tagged Tesla Inc. (TSLA) as Underweight, while 4 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 2.12, which symbolizes a positive outlook. A quick review shows that TSLA’s price is currently 33.79% off the SMA20 and 28.97% off the SMA50. The RSI metric on the 14-day chart is currently showing 73.58, and weekly volatility stands at 7.13%. When measured over the past 30 days, the indicator reaches 6.76%. Tesla Inc. (NASDAQ:TSLA)’s beta value is currently sitting at 2.10, while the Average True Range indicator is currently displaying 11.19. With analysts defining $24.33-$338.00 as the low and high price targets, we arrive at a consensus price target of $193.77 for the trailing 12-month period. The current price is about 87.51% off the estimated low and -73.55% off the forecast high, based on this estimate. Investors will be thrilled if TSLA’s share price rises to $197.50, which is the median consensus price. At that level, TSLA’s share price would be -1.41% below current price.
To see how Tesla Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: TSLA stock’s performance was 2.52% in the latest trading, and -34.43% in the past year. Tesla Inc. has a P/E ratio of 53.73. Also in last trading session, the S&P 500 Index has plunged -0.61%, while the Dow Jones Industrial also saw a negative session, down -0.10% on the day.
An evaluation of the daily trading volume of Tesla Inc. (NASDAQ:TSLA) indicates that the 3-month average is 148.53 million. However, this figure has increased over the past 10 days to an average of 216.82 million.
Currently, records show that 3.16 billion of the company’s shares remain outstanding. The insiders hold 0.10% of outstanding shares, whereas institutions hold 44.80%. The stats also highlight that short interest as of Oct 13, 2022, stood at 69.09 million shares, resulting in a short ratio of 0.93 at that time. From this, we can conclude that short interest is 2.19% of the company’s total outstanding shares. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 63.69 million. However, since the stock’s price has seen 58.11% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.