Tesla Model 3 Pre-Orders Nearing 300,000, Stock Falls After The Market Close (TSLA)
Tesla Motors (NASDAQ:TSLA) continues it roll with the upside no where in sight, or is there? Shares of Tesla stock jumped Friday, gaining $7.82, or 3.4 percent, to close at $237.59, after the company introduced the long awaited “more affordable” Model 3 on Thursday night.
Since then, more than a quarter million people may have put down $1,000 reservations for the Model 3, the mass-market electric sedan that Tesla Motors sInc. unveiled last week, but thoughts have already turned to how Tesla will turn that latent demand into actual cars.
Tesla Chief Executive Elon Musk said late Saturday the company had received 273,000 reservations for the Model 3, expected to roll off the factory in late 2017, by the end of the day.
That’s about $11 billion worth of backlog orders.
Today , shares of Tesla Motors (NASDAQ:TSLA) closed up almost 4% to $246.99 on nearly three times the Avg. Daily volume with over 13,000,000 shares trading hands.
However, according to a company spokesman, new after the bell wasnt as positive. Shares gave back 2% after the bell.
“Tesla Q1 deliveries consisted of 12,420 Model S vehicles and 2,400 Model X vehicles,” Tesla spokeswoman Alexis Georgeson said in an emailed statement after the market close. “Q1 deliveries were almost 50% more than Q1 last year and Tesla remains on track to deliver 80,000 to 90,000 new vehicles in 2016.”
Analysts have jumped on the band wagon as well with Oppenheimer, Evercore ISI Stifel Nicholas, Robert W. Baird, Dougherty & Co and Bank of America all reiterating buys on the stock.
Consensus Ratings for Tesla Motors (NASDAQ:TSLA)
|Ratings Breakdown:||6 Sell Rating(s), 5 Hold Rating(s), 14 Buy Rating(s)|
|Consensus Rating:||Hold (Score: 2.32)|
|Consensus Price Target:||$271.33 (9.86% upside)|
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Tesla Motors, Inc. is a United States-based company, which designs, develops, manufactures and sells electric vehicles, electric vehicle powertrain components and stationary energy storage systems. The Company sells and produces a vehicle under the name Model S, which is a fully electric, four-door, five-adult passenger sedan. In addition to developing its own vehicles, it develops, sells, and services full electric powertrain systems and components to other automobile manufacturers. It also produces and sells stationary energy storage products for use in homes, commercial sites and utilities. The applications for these battery systems include backup power, peak demand reduction, demand response and wholesale electric market services. It sells its vehicles through its own sales and service network. The Company also offers the Model X electric car, Supercharger charging stations and Powerwall, a home battery.
Industry, Sector and Symbol:
- Sector: Consumer Goods
- Industry: Auto Manufacturers – Major
- Sub-Industry: Automobile Manufacturers
- Exchange: NASDAQ
- Symbol: TSLA
- CUSIP: 88160R10
- Previous Close: $237.59
- 50 Day Moving Average: $203.08
- 200 Day Moving Average: $215.41
- P/E Ratio: N/A
- P/E Growth: 1.79
- Market Cap: $33.01B
- Current Quarter EPS Consensus Estimate: $1.31 EPS
- View TSLA on Google Finance
- View TSLA on Yahoo Finance
- View TSLA’s Company Profile on Reuters
- Search for Tesla Motors Inc on Google
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