TSLA stock
What is Tesla (TSLA) current stock price?
TSLA shares trading today and historical:
TSLA – Tesla Stock News below
Curious about SpaceX stock? SpaceX is a private company; learn more at our sister site SpaceExplored.com.
TSLA shares trading today and historical:
TSLA – Tesla Stock News below
Curious about SpaceX stock? SpaceX is a private company; learn more at our sister site SpaceExplored.com.
According to Nasdaq’s latest short interest update, the total short position on Tesla’s stock increased to 27,367,931 shares – its highest since March 2014. The short position is almost as important as Tesla CEO Elon Musk’s own stake in the company: 28,371,342 shares or about 29% of the float.
In a new note issued this morning, Credit Suisse analyst Dan Galves reiterated an ‘outperform’ rating and $325 price target on Tesla Motors (NASDAQ: TSLA) . The analyst considers the fourth quarter guidance to be “achievable” and he sees a “reasonable path” to $4 EPS in 2016 – compared to the ~$2.30 annualized loss per share in the last quarter.
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Jim Chanos is a famed billionaire hedge fund manager known for short selling companies. He is also a regular market commentator for CNBC and Bloomberg. Chanos recently disclosed having a short position on solar installer SolarCity (SCTY) and although he refused to disclose his position on Tesla Motors (TSLA), he doesn’t have good things to say about the company.
During an interview with Bloomberg on Monday morning, Chanos explained why he thinks both companies are overvalued, but the “facts” he used to support his opinion are misleading.
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Adam Jonas, Managing Director at Morgan Stanley, published a note yesterday to update the firm’s price target on Tesla’s stock to $465 from $280. The updated price target includes a whole new business segment called “Tesla Mobility” which Jonas expects Tesla to announce within the next 12 to 18 months.
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While Tesla’s stock price gained 6% this morning after a note from Deutsche Bank, short interest on Tesla’s stock increased to 21.3% of the outstanding shares. This is the highest level of short interest on Tesla in the past 13 months. Short interest contributed greatly to the previous few surges of Tesla’s stock price. In early 2013, short interest was over 30 million shares when Tesla reported a profit. Investors started covering their short position, which created a lot of demand for Tesla’s stock.
Tesla is holding an event Thursday to announce their home energy storage products. Historically, Tesla’s stock price increases prior to an announcement and then decreases after the event. This is commonly referred to as “buying on the rumor and selling on the news”. So far, this current event is not an exception with Tesla’s stock price gaining over 20% since Elon Musk tweeted about the upcoming event to be held at Tesla’s design studio in Hawthorne.