Market Runner: Tesla Motors Inc Draws Bullish Attention After Its Gap Up Today

Market Runner: Tesla Motors Inc Draws Bullish Attention After Its Gap Up Today

The stock of Tesla Motors Inc (NASDAQ:TSLA) gapped up by $3.27 today and has $290.63 target or 36.00% above today’s $213.70 share price. The 9 months technical chart setup indicates low risk for the $32.30B company. The gap was reported on Oct, 4 by Barchart.com. If the $290.63 price target is reached, the company will be worth $11.63 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 4.74% or $9.67 during the last trading session, hitting $213.7. About 6.00 million shares traded hands or 88.68% up from the average. Tesla Motors Inc (NASDAQ:TSLA) has risen 14.68% since March 1, 2016 and is uptrending. It has outperformed by 2.46% the S&P500.

Analysts await Tesla Motors Inc (NASDAQ:TSLA) to report earnings on November, 1. They expect $-0.41 EPS, up 59.41% or $0.60 from last year’s $-1.01 per share. After $-1.54 actual EPS reported by Tesla Motors Inc for the previous quarter, Wall Street now forecasts -73.38% EPS growth.

Tesla Motors Inc (NASDAQ:TSLA) Ratings Coverage

Out of 21 analysts covering Tesla Motors Inc (NASDAQ:TSLA), 10 rate it a “Buy”, 3 “Sell”, while 8 “Hold”. This means 48% are positive. Tesla Motors Inc has been the topic of 52 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Tuesday, October 13 by S&P Research. The firm has “Overweight” rating given on Tuesday, September 22 by Morgan Stanley. The stock has “Sell” rating given by UBS on Friday, October 30. S&P Research maintained Tesla Motors Inc (NASDAQ:TSLA) rating on Friday, August 14. S&P Research has “Sell” rating and $225 price target. On Sunday, August 16 the stock rating was maintained by Global Equities Research with “Overweight”. The stock has “Outperform” rating given by Credit Suisse on Wednesday, November 25. The firm has “Buy” rating by Global Equities Research given on Thursday, September 3. Vetr upgraded it to “Buy” rating and $265.36 target price in Monday, August 24 report. The firm has “Equal-Weight” rating by Morgan Stanley given on Thursday, June 23. The rating was maintained by Barclays Capital with “Underweight” on Tuesday, February 9.

According to Zacks Investment Research, “Tesla Motors, Inc. designs, manufactures, and sells electric vehicles and electric vehicle powertrain components. The Company is headquartered in Palo Alto, California.”

Insitutional Activity: The institutional sentiment increased to 1.35 in Q2 2016. Its up 0.17, from 1.18 in 2016Q1. The ratio improved, as 82 funds sold all Tesla Motors Inc shares owned while 123 reduced positions. 61 funds bought stakes while 216 increased positions. They now own 98.03 million shares or 2.04% more from 96.07 million shares in 2016Q1.
The Ontario – Canada-based Canada Pension Plan Inv Board has invested 0% in Tesla Motors Inc (NASDAQ:TSLA). Daiwa last reported 30,406 shares in the company. Nordea Investment Management Ab has 0.01% invested in the company for 10,720 shares. Twin Tree Management L P accumulated 0.01% or 1,879 shares. Westport Resource Inc accumulated 0.01% or 200 shares. The Georgia-based Masters Mngmt Limited Liability Corporation has invested 0.61% in Tesla Motors Inc (NASDAQ:TSLA). Johnson Group has 310 shares for 0.01% of their US portfolio. Millennium Mngmt Limited Liability Company has invested 0.01% of its portfolio in Tesla Motors Inc (NASDAQ:TSLA). Focused Wealth Management Incorporated owns 364 shares or 0.04% of their US portfolio. Amici Ltd holds 23,000 shares or 0.92% of its portfolio. Ubs Asset Management Americas holds 0.05% or 228,694 shares in its portfolio. Kcm Invest Advsr Ltd Liability has 0.06% invested in the company for 3,725 shares. Axa has 500 shares for 0% of their US portfolio. California Public Employees Retirement holds 322,300 shares or 0.11% of its portfolio. Amalgamated Comml Bank accumulated 0.11% or 8,526 shares.

Insider Transactions: Since April 26, 2016, the stock had 0 buys, and 4 sales for $1.91 million net activity. $103,211 worth of Tesla Motors Inc (NASDAQ:TSLA) was sold by Musk Kimbal. Shares for $253,134 were sold by FIELD JOHN DOUGLAS on Tuesday, April 26.

More notable recent Tesla Motors Inc (NASDAQ:TSLA) news were published by: Fool.com which released: “How Risky Is Tesla Motors Inc.?” on October 03, 2016, also Fool.com with their article: “Tesla Motors, Inc. Hires Former Apple PR Veteran” published on September 30, 2016, Fool.com published: “Tesla Motors, Inc. Expects Q3 to Be Its “Best Ever”” on September 29, 2016. More interesting news about Tesla Motors Inc (NASDAQ:TSLA) were released by: Fool.com and their article: “Can Tesla Motors, Inc.’s Vehicle Deliveries Live Up to Big Guidance?” published on September 28, 2016 as well as Fool.com‘s news article titled: “Does the Bolt Really Have More Range Than Tesla Motors, Inc.’s Model 3?” with publication date: September 27, 2016.

TSLA Company Profile

Tesla Motors, Inc., incorporated on July 1, 2003, designs, develops, makes and sells electric vehicles and energy storage products. The Firm produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Firm has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products. The Company’s energy storage products include the seven kilowatt-hour and 10 kilowatt-hour Powerwall for residential applications, and the 100 kilowatt-hour Powerpack for commercial and industrial applications. The Firm delivers energy storage products products under the Tesla Energy brand. It makes its products primarily at its facilities in Fremont, California, Lathrop, California, Tilburg, Netherlands and at its Gigafactory near Reno, Nevada. It is using battery packs manufactured at the Gigafactory for its energy storage products.

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