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Tesla’s share offering jumps to more than 640 million dollars
Tesla Motors says it plans to raise over $600 million through the sale of 2.69 million shares. They set a buy rating and a $350.00 price objective for the company.
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Tesla reportedly expects the shares to sell at Wednesday’s stock-market closing price of $238.17. The stock has a 50-day moving average of $261.43 and a 200-day moving average of $231.4.
In other Tesla Motors news, VP Jerome M. Guillen sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $264.53, for a total transaction of $396,795.00. Adam Jonas, who is joined by Ben Kallo of Baird and Trip Chowdhry of Global Equities Research in a group of more hopeful Tesla Motors researchers, knows that short term shipments simply do not matter to Tesla Motors. Tesla Motors now has an average rating of “Hold” and a consensus target price of $281.23. The disclosure for this sale can be found here.
Tesla Motors Inc (NASDAQ:TSLA)’s CEO is projected to sell nearly 11,000 of his Model S SUV in the fourth quarter of 2015.
Morgan Stanley analysts gave Tesla Motors a price target of 465, up 665 from its prior target of 280, while maintaining an overweight rating. The company’s market cap is $30.91 billion. On August 5 Tesla Motors (NASDAQ:TSLA) released its earnings numbers for the three months through June. The electric vehicle producer reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.12. This corresponds to a decrease of $1.29 compared to the same quarter of the previous fiscal year. The shares opened for trading at $247.24 and hit $247.93 on the upside, eventually ending the session at $243.15, with a gain of 0.26% or 0.64 points. Its battery packs are designed by it. The technology of the Company’s comprises customized motor layout, security systems, charge balancing systems, battery engineering for vibration and environmental durability, robotic making procedures, cooling systems along with electronic equipment management systems and the software required to control battery and vehicle functionality. The Company designs, develops, manufactures and sells electric vehicle powertrain components to other automotive producers.
Going forward, the company is hoping sales of the Model X will help Tesla become free cash flow positive. The Business uses manufacturing processes and energy management technologies developed because of its vehicle powertrain systems and develops stationary energy storage products for use in commercial sites, residences and utilities.
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To view Vetr’s full report, visit Vetr’s official website.