Tesla Inc (NASDAQ: TSLA) Seen Running Too Hot, Let’s Look At This More Closely

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 -1.31% and 42.17% over the past three months. TSLA shares are trading -0.10% year to date (YTD), with the 12-month market performance down to -8.74% 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 96.01 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 18.35%, 30.60%, and 20.83% respectively.

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Institutional ownership of Tesla Inc (NASDAQ: TSLA) shares accounts for 45.48% of the company’s 3.19B shares outstanding.

It has a market capitalization of $791.66B and a beta (3y monthly) value of 2.32. The stock’s trailing 12-month PE ratio is 63.43, while the earnings-per-share (ttm) stands at $3.91. The company has a PEG of 4.51 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 7.42% over the week and 5.23% over the month.

Earnings per share for the fiscal year are expected to decrease by -22.34%, and 38.18% over the next financial year.

Looking at the support for the TSLA, a number of firms have released research notes about the stock. Mizuho stated their Neutral rating for the stock in a research note on July 12, 2024, with the firm’s price target at $180-$230. UBS coverage for the Tesla Inc (TSLA) stock in a research note released on July 12, 2024 offered a Sell rating with a price target of $197. Goldman was of a view on July 10, 2024 that the stock is Neutral, while China Renaissance gave the stock Buy rating on July 05, 2024, issuing a price target of $290. Wedbush on their part issued Outperform rating on July 03, 2024.

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