Short Interest in Tesla Inc (NASDAQ:TSLA) Drops By 5.0%

Tesla Inc (NASDAQ:TSLA) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 41,459,900 shares, a decline of 5.0% from the May 15th total of 43,664,800 shares. Approximately 35.1% of the shares of the company are short sold. Based on an average daily volume of 11,470,000 shares, the days-to-cover ratio is presently 3.6 days.

Shares of NASDAQ TSLA traded up $4.64 during mid-day trading on Friday, hitting $258.18. The company had a trading volume of 7,026,874 shares, compared to its average volume of 7,610,156. The company has a market cap of $44.85 billion, a P/E ratio of -45.14 and a beta of 0.62. The company has a 50-day moving average price of $222.41. The company has a quick ratio of 0.42, a current ratio of 0.83 and a debt-to-equity ratio of 1.79. Tesla has a one year low of $176.99 and a one year high of $387.46.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, April 24th. The electric vehicle producer reported ($4.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.51) by ($1.59). Tesla had a negative net margin of 4.29% and a negative return on equity of 18.23%. The company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the previous year, the business earned ($3.35) EPS. Tesla’s revenue was up 33.2% on a year-over-year basis. On average, sell-side analysts forecast that Tesla will post -4.57 earnings per share for the current year.

In other news, CFO Zachary Kirkhorn sold 150 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $255.68, for a total value of $38,352.00. Following the sale, the chief financial officer now owns 9,962 shares of the company’s stock, valued at approximately $2,547,084.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey B. Straubel sold 15,000 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $239.08, for a total value of $3,586,200.00. Following the sale, the insider now directly owns 321,398 shares in the company, valued at $76,839,833.84. The disclosure for this sale can be found here. Insiders have sold a total of 117,456 shares of company stock valued at $24,716,630 in the last 90 days. Insiders own 24.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Sontag Advisory LLC bought a new position in Tesla during the fourth quarter worth about $26,000. Mackey Komara & Dankovich LLC grew its holdings in Tesla by 493.3% during the first quarter. Mackey Komara & Dankovich LLC now owns 89 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 74 shares during the period. Mizuho Securities Co. Ltd. bought a new position in Tesla during the first quarter worth about $28,000. Legacy Advisors LLC acquired a new stake in Tesla during the first quarter worth approximately $32,000. Finally, Smart Portfolios LLC acquired a new stake in Tesla during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 55.77% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. UBS Group set a $170.00 target price on United Rentals and gave the stock a “buy” rating in a research report on Friday, June 28th. Wolfe Research downgraded Tesla from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $375.00 to $265.00 in a report on Thursday, May 2nd. ValuEngine upgraded XPO Logistics from a “strong sell” rating to a “sell” rating in a report on Thursday, April 4th. Citigroup upgraded Gilead Sciences from a “neutral” rating to a “buy” rating and set a $66.80 price target on the stock in a report on Wednesday, May 22nd. Finally, Robert W. Baird lowered their target price on Tesla from $400.00 to $340.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. Seventeen investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. Tesla currently has a consensus rating of “Hold” and an average price target of $281.97.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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