Tesla Inc (NASDAQ: TSLA) Loses -41.26% From High. Why That Could Change?

Currently, there are 3.19B common shares owned by the public and among those 2.77B shares have been available to trade.

The company’s stock has a 5-day price change of 1.72% and -32.76% over the past three months. TSLA shares are trading -29.25% year to date (YTD), with the 12-month market performance down to -7.08% lower. It has a 12-month low price of $152.37 and touched a high of $299.29 over the same period. TSLA has an average intraday trading volume of 103.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.95%, -6.54%, and -24.39% respectively.

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Institutional ownership of Tesla Inc (NASDAQ: TSLA) shares accounts for 44.73% of the company’s 3.19B shares outstanding.

It has a market capitalization of $559.85B and a beta (3y monthly) value of 2.40. The stock’s trailing 12-month PE ratio is 40.85, while the earnings-per-share (ttm) stands at $4.30. The company has a PEG of 3.96 and a Quick Ratio of 1.25 with the debt-to-equity ratio at 0.15. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.29% over the week and 4.01% over the month.

Analysts forecast that Tesla Inc (TSLA) will achieve an EPS of $0.6 for the current quarter, $0.71 for the next quarter and $3.94 for 2025. The lowest estimate earnings-per-share for the quarter is $0.24 while analysts give the company a high EPS estimate of $0.87. Comparatively, EPS for the current quarter was $0.85 a year ago. Earnings per share for the fiscal year are expected to decrease by -8.09%, and 36.28% over the next financial year.

Looking at the support for the TSLA, a number of firms have released research notes about the stock. Wedbush stated their Outperform rating for the stock in a research note on March 28, 2024, with the firm’s price target at $315-$300. Deutsche Bank coverage for the Tesla Inc (TSLA) stock in a research note released on March 28, 2024 offered a Buy rating with a price target of $200. Citigroup was of a view on March 27, 2024 that the stock is Neutral, while Mizuho gave the stock Neutral rating on March 25, 2024, issuing a price target of $195. Goldman on their part issued Neutral rating on March 18, 2024.

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