Tesla Motors Inc (TSLA) reported quarterly earnings results on Wednesday, Aug-3-2016. The company reported $-1.06 earnings per share for the quarter, missing the analyst consensus estimate by $-0.41. Analysts had a consensus of $-0.65. The company posted revenue of $1562.70 million in the period, compared to analysts expectations of $1649.08 million. The company’s revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.48 EPS.
Many Wall Street Analysts have commented on Tesla Motors Inc. Shares were Reiterated by RBC Capital Mkts on Jul 8, 2016 to “Sector Perform” and Lowered the Price Target to $ 210 from a previous price target of $220 .Shares were Reiterated by Pacific Crest on Jul 6, 2016 to “Sector Weight” and Lowered the Price Target to $ 190 from a previous price target of $212 .Tesla Motors Inc was Downgraded by Argus to ” Hold” on Jun 28, 2016.
Tesla Motors Inc closed down -2.81 points or -1.22% at $227.2 with 39,34,432 shares getting traded on Tusday. Post opening the session at $229.37, the shares hit an intraday low of $221.4 and an intraday high of $229.87 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jun 15, 2016, Kimbal Musk (director) sold 460 shares at $224.37 per share price. According to the SEC, on Jun 9, 2016, John Douglas Field (VP, Engineering) sold 1,000 shares at $230.75 per share price. On May 26, 2016, Elon Musk (CEO) sold 2,782,670 shares at $213.22 per share price, according to the Form-4 filing with the securities and exchange commission.
Tesla Motors Inc. is a United States-based company which designs develops manufactures and sells electric vehicles electric vehicle powertrain components and stationary energy storage systems. The Company sells and produces a vehicle under the name Model S which is a fully electric four-door five-adult passenger sedan. In addition to developing its own vehicles it develops sells and services full electric powertrain systems and components to other automobile manufacturers. It also produces and sells stationary energy storage products for use in homes commercial sites and utilities. The applications for these battery systems include backup power peak demand reduction demand response and wholesale electric market services. It sells its vehicles through its own sales and service network. The Company also offers the Model X electric car Supercharger charging stations and Powerwall a home battery.