Tesla Inc. (TSLA): A Sitting Duck With A Potential Upside Of More Than -74.04%

Tesla Inc. (NASDAQ:TSLA) price on Wednesday, August 17, fall -0.45% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $907.85.

A look at the stock’s price movement, the level at last check in today’s session was $911.99, moving within a range at $900.10 and $928.97. The beta value (5-Year monthly) was 2.18 while the PE ratio in trailing twelve months stood at 109.47. Turning to its 52-week performance, $1243.49 and $620.57 were the 52-week high and 52-week low respectively. Overall, TSLA moved 23.81% over the past month.

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Tesla Inc.’s market cap currently stands at around $915.88 billion, with investors looking forward to this quarter’s earnings report slated for Oct 18, 2022 – Oct 24, 2022.

Analysts have a consensus estimate of $22.53 billion for the company’s revenue for the quarter, with a low and high estimate of $18.39 billion and $25.57 billion respectively. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $84.79 billion, representing a 57.50% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 2 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that TSLA is a 50% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.

42 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 11 analyst(s) rate the stock as a Hold, 23 recommend TSLA as a Buy and 3 give it an Overweight rating. Meanwhile, 2 analyst(s) rate the stock as Underweight and 3 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

The technical evaluation for the stock shows the PEG ratio is 2.11, with TSLA’s current price about 4.34% and 17.83% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 60.87, while 7-day volatility ratio is 4.14% and 4.57% in the 30-day chart. Further, Tesla Inc. (TSLA) has a beta value of 2.17, and an average true range (ATR) of 39.80. Analysts have given the company’s stock an average 52-week price target of $960.06, forecast between a low of $250.00 and high of $1580.00. Looking at the price targets, the low is 72.46% off recent price level in today’s trading while to achieve the yearly target high, it has to move -74.04%. Nonetheless, investors will most likely welcome a -10.15% jump to $1000.00 which is the analysts’ median price.

In the market, a comparison of Tesla Inc. (TSLA) and its peers suggest the former has performed considerably weaker. Data shows TSLA’s intraday price has changed -0.45% today and 37.00% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -0.15% and -0.28% respectively on the day as seen in early trades.

If we refocus on Tesla Inc. (NASDAQ:TSLA), historical trading data shows that trading volumes averaged 28.7 million over the past 10 days and 30.70 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.00 billion shares.

The 0.10% of Tesla Inc.’s shares are in the hands of company insiders while institutional holders own 42.80% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 25.02 million on Jul 28, 2022, giving us a short ratio of 0.86. The data shows that as of Jul 28, 2022 short interest in Tesla Inc. (TSLA) stood at 2.40% of shares outstanding, with shares short falling to 27.1 million registered in Jun 29, 2022. Current price change has pushed the stock -13.70% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the TSLA stock continues to rise going into the next quarter.

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