Tesla, Inc. (NASDAQ:TSLA) is one of the worst performers on the stock market today. At current price of $501.33, the shares have already lost -17.17 points (-3.31% lower) from its previous close of $518.5. Should you buy or avoid them? The stock sets an active trading volume day with a reported 8370151 contracts so far this session. TSLA shares had a relatively better volume day versus average trading capacity of 11.29 million shares, but with a 0.14 billion float and a 5.36% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TSLA stock indicates that the average analyst price target is $323.86 per share. This means the stock has a potential decrease of -35.4% from where the TSLA share price has been trading recently.
During the recent trading session for Tesla, Inc. (NASDAQ:TSLA), the company witnessed their stock rise $15.34 over a week and surge $117.69 from the price 20 days ago. When compared to their established 52-week high of $547.41, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/14/20. The recent low of $176.99 stood for a -8.42% since 03/06/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.62 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Tesla, Inc., the two-week RSI stands at 67.18. This figure suggests that TSLA stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current TSLA readings is similarly very revealing as it has a stochastic reading of 79.56% at this stage. This figure means that TSLA share price today is being oversold.
Technical chart claims that Tesla, Inc. (TSLA) would settle between $531.96/share to $545.43/share level. However, if the stock price goes below the $510.91 mark, then the market for Tesla, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $503.32 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 23.23. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Morgan Stanley lowered their recommendation on shares of TSLA from Equal-Weight to Underweight in their opinion released on January 16. Jefferies analysts again handed out a Buy recommendation to Tesla, Inc. (NASDAQ:TSLA) stock but they lifted target price for the shares in a flash note issued to investors on January 14. The target price has been raised from $400 to $600. Analysts at Deutsche Bank are sticking to their Hold stance. However, on January 14, they lifted price target for these shares to $455 from $290.
TSLA equity has an average rating of 2.61, with the figure leaning towards a bullish end. 30 analysts who tracked the company were contacted by Reuters. Amongst them, 9 rated the stock as a hold while the remaining 21 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 10 analysts rated Tesla, Inc. (NASDAQ:TSLA) as a buy or a strong buy while 11 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, TSLA stock price is currently trading at 88.44X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 13.2. Tesla, Inc. current P/B ratio of 15.5 means it is trading at a premium against its industry’s 1.4.
Tesla, Inc. (TSLA)’s current-quarter revenues are projected to climb by nearly -2.9% to hit $7.02 billion, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 13.9% from $21.46 billion to a noteworthy $24.45 billion. At the other end of the current quarter income statement, Tesla, Inc. is expected to see its adjusted earnings surge by roughly -10.9% to hit $1.72 per share. For the fiscal year, TSLA’s earnings are projected to climb by roughly 79.7% to hit $-0.27 per share.