Short Interest in Tesla Motors Inc. (TSLA) Expands By 6.4%
Tesla Motors Inc. (NASDAQ:TSLA) saw a significant increase in short interest in September. As of September 15th, there was short interest totalling 27,884,627 shares, an increase of 6.4% from the August 31st total of 26,213,855 shares. Currently, 24.7% of the shares of the company are sold short. Based on an average trading volume of 4,181,307 shares, the short-interest ratio is currently 6.7 days.
Tesla Motors (NASDAQ:TSLA) opened at 204.03 on Friday. The stock’s market capitalization is $30.34 billion. The stock’s 50 day moving average is $209.82 and its 200 day moving average is $222.47. Tesla Motors has a 12-month low of $141.05 and a 12-month high of $269.34.
Tesla Motors (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.51) by $0.55. The company earned $1.56 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Tesla Motors had a negative return on equity of 46.30% and a negative net margin of 24.64%. The company’s quarterly revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.48) EPS. Equities analysts predict that Tesla Motors will post ($0.93) earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on TSLA shares. Robert W. Baird reaffirmed an “outperform” rating and issued a $338.00 target price on shares of Tesla Motors in a report on Tuesday, July 5th. Pacific Crest reaffirmed a “hold” rating on shares of Tesla Motors in a report on Wednesday. Piper Jaffray Cos. started coverage on Tesla Motors in a report on Thursday, June 9th. They set a “neutral” rating and a $223.00 price objective for the company. Goldman Sachs Group Inc. reissued a “buy” rating and set a $240.00 price objective on shares of Tesla Motors in a report on Monday, July 25th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $290.00 price objective on shares of Tesla Motors in a report on Wednesday, July 6th. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $248.60.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Motley Fool Wealth Management LLC boosted its position in Tesla Motors by 1.9% in the first quarter. Motley Fool Wealth Management LLC now owns 45,644 shares of the electric vehicle producer’s stock worth $10,488,000 after buying an additional 873 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Tesla Motors by 103.6% in the first quarter. Stratos Wealth Partners LTD. now owns 2,236 shares of the electric vehicle producer’s stock valued at $514,000 after buying an additional 1,138 shares during the period. Teachers Advisors Inc. boosted its position in shares of Tesla Motors by 4.9% in the first quarter. Teachers Advisors Inc. now owns 208,865 shares of the electric vehicle producer’s stock valued at $47,991,000 after buying an additional 9,669 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Tesla Motors by 18.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,143,667 shares of the electric vehicle producer’s stock valued at $262,780,000 after buying an additional 180,791 shares during the period. Finally, Hilltop Park Associates LLC acquired a new position in shares of Tesla Motors during the first quarter valued at about $1,148,000. 66.62% of the stock is owned by institutional investors and hedge funds.
About Tesla Motors
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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