Tesla may enter ride ride-hailing business next year
- Author: Zachary Reyes Oct 23, 2016,
Oct 23, 2016, 2:20
Vetr downgraded shares of Tesla Motors Inc. 6,991,183 shares of the company traded hands. The stock's market cap is $29.60 billion. Tesla Motors has a 12-month low of $141.05 and a 12-month high of $269.34. TSLA has recorded a 50-day average of $202.47 and a two hundred day average of $219.97.
Tesla Motors (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, August 3rd. Analyst had a consensus of $-0.65. Tesla Motors had a negative return on equity of 46.30% and a negative net margin of 24.64%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.67 billion.
What Tesla and Musk announced is not easy to do, but companies like Uber, BMW, Google and others are cranking up the race for autonomous driving, which will also lead to additional opportunities for machine learning, both of which need to be powered by GPU's. The business's revenue was up 30.5% compared to the same quarter a year ago. During the same quarter in the previous year, the business posted ($0.48) earnings per share.
Several brokerages recently weighed in on TSLA. It sells its vehicles through its own sales and service network. Henderson Group PLC increased its stake in shares of Tesla Motors by 7.3% in the second quarter. Nisa Investment Advisors L.L.C. now owns 3,700 shares of the electric vehicle producer's stock worth $850,000 after buying an additional 200 shares in the last quarter. Gilder Gagnon Howe & Co. State Treasurer State of MI now owns 339,623 shares of the electric vehicle producer's stock worth $72,095,000 after buying an additional 234,802 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp now owns 755,475 shares of the electric vehicle producer's stock valued at $160,372,000 after buying an additional 48,581 shares during the last quarter. Oppenheimer Holdings Inc. reiterated a "hold" rating on shares of Tesla Motors in a report on Wednesday, June 29th. The Hedge Fund company now holds 701 shares of TSLA which is valued at $137,754. Institutional investors own 66.62% of the company's stock.
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. Musk said the new hardware is "basically a super-computer in a auto", hoping that his company will someday be able to impress transport regulators with significant amount of "data showing the autonomous driving technology would avoid crashes and save lives". The Company also offers the Model X electric auto Supercharger charging stations and Powerwall a home battery. It also produces and sells stationary energy storage products for use in homes commercial sites and utilities.