Reassessing The Changing Outlook For Tesla Inc (TSLA)

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 8.13% and 12.57% over the past three months. TSLA shares are trading -20.36% year to date (YTD), with the 12-month market performance down to -22.78% lower. It has a 12-month low price of $138.80 and touched a high of $299.29 over the same period. TSLA has an average intraday trading volume of 87.92 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 9.29%, 12.68%, and -4.21% respectively.

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Institutional ownership of Tesla Inc (NASDAQ: TSLA) shares accounts for 45.42% of the company’s 3.19B shares outstanding.

It has a market capitalization of $631.08B and a beta (3y monthly) value of 2.31. The stock’s trailing 12-month PE ratio is 50.57, while the earnings-per-share (ttm) stands at $3.91. The company has a PEG of 3.31 and a Quick Ratio of 1.17 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 3.86% over the week and 3.86% over the month.

Earnings per share for the fiscal year are expected to decrease by -23.08%, and 36.65% over the next financial year.

Looking at the support for the TSLA, a number of firms have released research notes about the stock. Stifel stated their Buy rating for the stock in a research note on June 26, 2024, with the firm’s price target at $265. Cantor Fitzgerald was of a view on May 02, 2024 that the stock is Overweight, while BofA Securities gave the stock Buy rating on April 24, 2024, issuing a price target of $220. RBC Capital Mkts on their part issued Outperform rating on April 24, 2024.

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