Tesla Inc. (NASDAQ: TSLA) stock jumped 0.86% on Thursday to $184.47 against a previous-day closing price of $182.90. With 96.87 million shares changed hands, the volume of the stock remained lighter than its average volume of 132.9 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $186.78 whereas the lowest price it dropped to was $180.58. The 52-week range on TSLA shows that it touched its highest point at $314.67 and its lowest point at $101.81 during that stretch. It currently has a 1-year price target of $181.21. Beta for the stock currently stands at 2.00.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TSLA was up-trending over the past week, with a rise of 4.29%, but this was up by 19.98% over a month. Three-month performance dropped to -6.30% while six-month performance rose 8.57%. The stock lost -11.90% in the past year, while it has gained 49.76% so far this year. A look at the trailing 12-month EPS for TSLA yields 3.40 with Next year EPS estimates of 4.88. For the next quarter, that number is 0.78. This implies an EPS growth rate of 121.70% for this year and 41.13% for next year. EPS is expected to grow by 10.66% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 39.90%.
Float and Shares Shorts:
At present, 3.17 billion TSLA shares are outstanding with a float of 2.64 billion shares on hand for trading. On Apr 27, 2023, short shares totaled 95.01 million, which was 3.00% higher than short shares on Mar 30, 2023. In addition to Mr. Elon R. Musk as the firm’s Technoking of Tesla, CEO & Director, Mr. Zachary John Planell Kirkhorn serves as its Master of Coin & CFO.
Institutional Ownership:
Through their ownership of 44.89% of TSLA’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 26.75% of TSLA, in contrast to 16.52% held by mutual funds. Shares owned by individuals account for 13.83%. As the largest shareholder in TSLA with 6.60% of the stake, The Vanguard Group, Inc. holds 209,286,827 shares worth 209,286,827. A second-largest stockholder of TSLA, BlackRock Fund Advisors, holds 112,631,941 shares, controlling over 3.55% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in TSLA, holding 99,683,820 shares or 3.15% stake. With a 2.64% stake in TSLA, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 83,576,682 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 1.99% of TSLA stock, is the second-largest Mutual Fund holder. It holds 63,126,751 shares valued at 10.37 billion. Invesco QQQ Trust holds 1.02% of the stake in TSLA, owning 32,336,935 shares worth 5.31 billion.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, TSLA reported revenue of $16.93B and operating income of $2.61B. The EBITDA in the recently reported quarter was $3.58B and diluted EPS was $0.65.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TSLA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TSLA analysts setting a high price target of $300.00 and a low target of $71.00, the average target price over the next 12 months is $190.36. Based on these targets, TSLA could surge 62.63% to reach the target high and fall by -61.51% to reach the target low. Reaching the average price target will result in a growth of 3.19% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded TSLA stock several times over the past three months with 12 Buys and 19 Sells. In these transactions, 168,591 shares were bought while 149,470 shares were sold. The number of buy transactions has increased to 51 while that of sell transactions has risen to 275 over the past year. The total number of shares bought during that period was 439,076 while 73,913,280 shares were sold.
