Tesla Inc. (NASDAQ:TSLA) shares, rose in value on Thursday, October 27, with the stock price up by 0.09% to the previous day’s close as strong demand from buyers drove the stock to $224.84.
Actively observing the price movement in the recent trading, the stock is buoying the session at $224.64, falling within a range of $218.20 and $230.60. The value of beta (5-year monthly) is 2.13 whereas the PE ratio is 69.21 over 12-month period. Referring to stock’s 52-week performance, its high was $414.50, and the low was $198.59. On the whole, TSLA has fluctuated by -20.61% over the past month.
With the market capitalization of Tesla Inc. currently standing at about $680.40 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jan 24, 2023 – Jan 30, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.25, which is expected to increase to $1.8 for fiscal year $4.09 and then to about $5.61 by fiscal year 2023. Data indicates that the EPS growth is expected to be 81.00% in 2023, while the next year’s EPS growth is forecast to be 37.20%.
Analysts have estimated the company’s revenue for the quarter at $26.16 billion, with a low estimate of $21.27 billion and a high estimate of $29.43 billion. According to the average forecast, sales growth in current quarter could jump up 47.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $83.52 billion, representing an increase of 55.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 3 upward and no downward review(s) in last seven days. We see that TSLA’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
42 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 12 analyst(s), 22 recommend it as a Buy and 4 called the TSLA stock Overweight. In the meantime, 1 analyst(s) believe the stock as Underweight and 3 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.
The stock’s technical analysis shows that the PEG ratio is about 1.44, with the price of TSLA currently trading nearly -1.22% and -15.42% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.93, while the 7-day volatility ratio is showing 6.41% which for the 30-day chart, stands at 5.77%. Furthermore, Tesla Inc. (TSLA)’s beta value is 2.10, and its average true range (ATR) is 13.95. The company’s stock has been forecasted to trade at an average price of $299.03 over the course of the next 52 weeks, with a low of $85.00 and a high of $530.00. Based on these price targets, the low is 62.2% off current price, whereas the price has to move -135.72% to reach the yearly target high. Additionally, analysts’ median price of $310.50 is likely to be welcomed by investors because it represents a decrease of -38.1% from the current levels.
Data on historical trading for Tesla Inc. (NASDAQ:TSLA) indicates that the trading volumes over the past 10 days have averaged 88.26 million and over the past 3 months, they’ve averaged 73.94 million. According to company’s latest data on outstanding shares, there are 3.11 billion shares outstanding.
Nearly 0.10% of Tesla Inc.’s shares belong to company insiders and institutional investors own 44.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 69.09 million shares as on Oct 13, 2022, resulting in a short ratio of 0.93. According to the data, the short interest in Tesla Inc. (TSLA) stood at 2.19% of shares outstanding as of Oct 13, 2022; the number of short shares registered in Sep 14, 2022 reached 63.69 million. The stock has fallen by -36.23% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TSLA stock heading into the next quarter.