Tesla Inc. (NASDAQ:TSLA) shares, rose in value on Wednesday, 05/24/23, with the stock price down by -1.54% to the previous day’s close as strong demand from buyers drove the stock to $182.90.
Actively observing the price movement in the last trading, the stock closed the session at $185.77, falling within a range of $178.22 and $184.22. The value of beta (5-year monthly) was 2.01 whereas the PE ratio was 53.84 over 12-month period. Referring to stock’s 52-week performance, its high was $314.67, and the low was $101.81. On the whole, TSLA has fluctuated by 13.84% over the past month.
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With the market capitalization of Tesla Inc. currently standing at about $569.24 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jul 18, 2023 – Jul 24, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.78, which is expected to increase to $1.2 for fiscal year $3.44 and then to about $4.86 by fiscal year 2024. Data indicates that the EPS growth is expected to be -15.50% in 2024, while the next year’s EPS growth is forecast to be 41.30%.
Analysts have estimated the company’s revenue for the quarter at $24.01 billion, with a low estimate of $22.3 billion and a high estimate of $26.38 billion. According to the average forecast, sales growth in current quarter could jump up 41.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $99.27 billion, representing an increase of 21.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that TSLA’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the PEG ratio is about 5.05, with the price of TSLA currently trading nearly 8.22% and 2.47% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.14, while the 7-day volatility ratio is showing 3.70% which for the 30-day chart, stands at 3.83%. Furthermore, Tesla Inc. (TSLA)’s beta value is 2.00, and its average true range (ATR) is 7.11.
Data on historical trading for Tesla Inc. (NASDAQ:TSLA) indicates that the trading volumes over the past 10 days have averaged 126.24 million and over the past 3 months, they’ve averaged 133.56 million. According to company’s latest data on outstanding shares, there are 3.17 billion shares outstanding.
Nearly 0.10% of Tesla Inc.’s shares belong to company insiders and institutional investors own 44.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 95.01 million shares as on Apr 27, 2023, resulting in a short ratio of 0.73. According to the data, the short interest in Tesla Inc. (TSLA) stood at 3.00% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 85.57 million. The stock has risen by 48.48% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TSLA stock heading into the next quarter.