Tesla Inc (NASDAQ:TSLA) Short Interest Update

Tesla Inc (NASDAQ:TSLA) was the target of a large growth in short interest in the month of March. As of March 29th, there was short interest totalling 32,740,424 shares, a growth of 9.6% from the March 15th total of 29,872,310 shares. Currently, 27.7% of the company’s shares are short sold. Based on an average trading volume of 8,278,953 shares, the short-interest ratio is currently 4.0 days.

Shares of TSLA traded up $10.93 during midday trading on Friday, hitting $255.03. 23,105,240 shares of the stock traded hands, compared to its average volume of 9,420,416. Tesla has a 1-year low of $231.13 and a 1-year high of $387.46. The company has a market cap of $44.30 billion, a price-to-earnings ratio of -44.59 and a beta of 0.27. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.52 and a current ratio of 0.83.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, April 24th. The electric vehicle producer reported ($4.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.51) by ($1.59). Tesla had a negative net margin of 4.29% and a negative return on equity of 18.23%. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same period last year, the firm posted ($3.35) EPS. The business’s revenue was up 33.2% compared to the same quarter last year. Analysts predict that Tesla will post -3.99 EPS for the current year.

A number of equities analysts have recently issued reports on the stock. Goldman Sachs Group reiterated a “sell” rating and issued a $225.00 price target on shares of Tesla in a report on Tuesday, January 22nd. UBS Group lowered their price objective on shares of Tesla from $230.00 to $220.00 and set a “sell” rating on the stock in a research note on Tuesday, January 29th. JPMorgan Chase & Co. reissued a “sell” rating and issued a $230.00 price objective on shares of Tesla in a research note on Tuesday, February 26th. Sanford C. Bernstein reissued a “neutral” rating and issued a $325.00 price objective on shares of Tesla in a research note on Friday, March 29th. Finally, JMP Securities decreased their price target on shares of Tesla from $394.00 to $374.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 4th. Seventeen analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $305.24.

In other Tesla news, insider Jeffrey B. Straubel sold 15,000 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $316.95, for a total transaction of $4,754,250.00. Following the completion of the transaction, the insider now owns 321,398 shares in the company, valued at approximately $101,867,096.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Linda Johnson Rice sold 1,700 shares of the stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $320.00, for a total transaction of $544,000.00. Following the completion of the transaction, the director now owns 1,700 shares of the company’s stock, valued at approximately $544,000. The disclosure for this sale can be found here. Insiders sold a total of 97,040 shares of company stock worth $27,451,754 over the last three months. Insiders own 22.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mackey Komara & Dankovich LLC raised its stake in shares of Tesla by 493.3% during the first quarter. Mackey Komara & Dankovich LLC now owns 89 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 74 shares in the last quarter. Alpha Windward LLC bought a new stake in Tesla in the fourth quarter worth about $26,000. Sontag Advisory LLC bought a new stake in Tesla in the fourth quarter worth about $26,000. Gradient Investments LLC raised its position in Tesla by 1,660.0% in the fourth quarter. Gradient Investments LLC now owns 88 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 83 shares in the last quarter. Finally, Intercontinental Wealth Advisors LLC bought a new stake in Tesla in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 59.58% of the company’s stock.

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About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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