Shares of Tesla, Inc. (NASDAQ:TSLA) are currently poised at -1.49% from the open today and are trading at $308.71. More than 5,716,353 shares have exchanged hands compared to an average trading volume of 5.46M. At the current pps, the market cap stands at $49.65B. The stock prices of Tesla, Inc. (NASDAQ:TSLA) are currently trading at -1.60% below its 52 week high and 73.25% above its 52 week low.
Tesla, Inc. (NASDAQ:TSLA) has been in the news for all the right reasons. Recently, Tesla, Inc. (NASDAQ:TSLA) announced that it has delivered just over 25,000 vehicles in Q1, of which approx 13,450 were Model S and approx 11,550 were Model X. This was a new quarterly record for us and represents a 69% increase over Q1 2016. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5%.
In addition to Q1 deliveries, about 4,650 vehicles were in transit to customers at the end of the quarter. These will be counted as deliveries in Q2 2017.
Tesla, Inc. (NASDAQ:TSLA) is all set to announce its earnings on Feb 22/a. As per Zack’s analyst ratings, Tesla, Inc. (NASDAQ:TSLA) currently has an average brokerage rating of 3.38. On a scale of 1 to 5, a rating of 1 or 2 would indicate a buy, and a rating of 4 or 5 would signify a sell recommendation. A rating of 3 would indicate a hold on the stock. The consensus target price on (NASDAQ:TSLA) is $239.833 with a high of $375 and a low of $155.
Let’s take a look at the technical analysis.
The Barchart Technical Opinion rating is a 96% Buy with a Strengthening short term outlook on maintaining the current direction. Longer term, the trend strength is Maximum. Long term indicators fully support a continuation of the trend. The market is in highly overbought territory. Beware of a trend reversal.
The The Exponential Moving Average (EMA) is similar to a simple moving average (average price over a set period) but it utilizes a weighting factor that exponentially declines from the most recent data point (recent prices are weighted higher than oid prices). EMA analysis compares the short term (5 days and 13 days), intermediate term (20 days) and long term (50 days) EMA’s. The respective EMA’s will give bullish signals when trading above trailing EMA’s and below the current price and vice versa. EMA alerts include crossovers (i.e the 5 day EMA crosses above/below the 20 day EMA) and EMA convergencies (5 day EMA equivalent to 13 day EMA). The long term and short term EMA’s of 304.21 and 266.02 are lower than the current trading price suggesting a bullish pattern in both short term as well as long term. .
The relative strength index (RSI) is a momentum osciallator that is able to measure the velocity and magnitude of stock price changes. Momentum is calculated as the ratio of positive price changes to negative price changes. The RSI analysis compares the current RSI against neutral(50), oversold (30) and overbought (70) conditions. Alerts will inform you when stocks recede from oversold/overbought levels or breakthrough neutral (50). The current RSI is 72.41 suggesting a bullish price action.
As such, while we believe Tesla, Inc. (NASDAQ:TSLA) represents a compelling growth story exposed to several secularly attractive markets, it would be interesting to see how it fairs for long-term investors.
Tesla Inc. designs, develops, manufactures, and sells electric vehicles and stationary energy storage products. It operates primarily in the United States, China, Norway and internationally. Tesla Inc., formerly known as Tesla Motors Inc., is headquartered in Palo Alto, California.
Keep you eye on Tesla and watch for new developments.