Tesla Motors Inc (NASDAQ:TSLA) has recently beaten analysts’ estimates after the company announced better than expected third quarter revenue. This led to the largest gain in the company’s stocks in almost three months, their biggest gain since August 7.
The Company’s shares surged about 9 % to close at $31.50 Monday.
The Company reported revenue of $50.1 million which declined 13 % from a year earlier, far above from analysts’ estimates of $45.8 million. Tesla reported its loss of 92 cents a share after excluding some items.
Tesla Motors Inc (TSLA) earned its third quarter revenue from the sale of its Model S along with battery packs and motors for use in Japanese automaker Toyota Motor Corporation (NYSE:TM)‘s electric RAV4 SUV. The Company reported expansion in its net loss to $110.8 million, or $1.05 per share, from $65.1 million, or 55 cents, in the previous year.
The Palo Alto based electric car maker plans to build at least 20,000 cars next year, at a starting price of $57,400, and add the Model X electric sport-utility vehicle in 2014. The Company also plans to expand production of its rechargeable Model S at its Fremont plant.
Tesla Motors Inc (TSLA) intends to have full-year sales as much as $440 million, according to a recent company filing. Moreover, the electric automaker plans to supply components for a new Mercedes-Benz model with Daimler AG.
During the third quarter, total vehicles produced were 350 units. Among that total number, about 253 Model S sedans were delivered along with 68 units of the discontinued Roadster sports car.
The automaker said that it received 2,900 new reservations for the Model S during the quarter. This represents a 30 % increase from the previous year.
Tesla Motors Inc (NASDAQ:TSLA) shares soared 8.93% during the last trading session, to close at $31.50. Tesla Motors shares traded in a range of $29.33 to $31.58. Tesla Motors has a market value of $3.32 billion.
The stock price trend of Tesla Motors is trading 9.17% up from their SMA 50 and -21.15% off the 52-week high. The worst hit of Tesla Motors in its 52 week range is $22.64 per share, with $39.95 as its 52 week best price. That compares with a latest closing price of $31.50. Tesla Motors latest trading price has a distance of 11.48% from its SMA 20 and is 1.56% up from its SMA200.
Let’s compare the performance of Tesla Motors stock in different time periods. With last session’s gain; the year-to-date (YTD) performance reflected a 10.29% increase from last year. Tesla Motors stock advanced 7.51% in the past month, bringing its three-month performance to 15.51% and six-month performance to -1.04%.
The risk factor associated with Tesla Motors, its volatility, 4.44% was seen in a week and for the month was 3.71%.
The Wall Street analyst’s recommendation about Tesla Motors this week is 2.2. Let’s have a look at share price targets set by analysts; almost 12 brokerages have a mean PT as $35.67 and median PT of 34.50. The highest price target set by those rating agencies was $50.00 and lowest PT was $19.00.