Tesla Motors Inc Short Interest Down, Investor Confidence Up

Tesla Motors Inc Short Interest Down, Investor Confidence Up
<a href="https://pixabay.com/users/Blomst/">Blomst</a> / Pixabay

Tesla Motors Inc (NASDAQ:TSLA)’s stock was upbeat on Thursday as more traders seem to be active on the stock. Short interest in Tesla declined 1.67 million shares to 29,639,877 total shares, or 35.2% of the float, says a report from StreetInsider. Days to cover have increased from 3.3 from the middle of January to 3.7 at the end of last month.

On Thursday, Tesla gained 2.21% to close at $199.63.

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Investors, analysts eagerly waiting for earnings

Tesla Motors Inc (NASDAQ:TSLA) is surging fueled by its expanding supercharger network, and investors are not able to ignore this increase all together. Tesla is set to post fourth quarter results on February 19th. The company is expected to report an EPS of $0.18 on revenue of $657.2 million, compared to the loss of $0.65 per share and revenue of just $306 million in the corresponding quarter of last year.

In the past year, stock of Tesla Motors Inc (NASDAQ:TSLA) has surged higher to return around 425% to the investors, who are confident regarding the long term outlook of the company. Over the past three months, shares increased 46% fueled by the numbers of fourth quarter deliveries.

Investors and analysts are waiting for the company to post its earnings report next week, and Wall Street is expecting more from the electronic vehicle manufacturer, at least the latest price increase indicate so. Tesla Motors Inc (NASDAQ:TSLA) will have to stand up to the expectations of investors and analysts alike.

Tesla Model S, never short on reviews

The stock is surging not only on the expectations of better earnings reports, but also due to the latest review from one of the most-respected men of the auto industry: Christian von Koenigsegg of the Swedish automaker Koenigsegg Automotive.

CleanTechnica reports that he has tried a foray into the electric vehicle industry himself, but ended up buying a Model S. He said that Tesla Motors Inc (NASDAQ:TSLA) has a great value for the performance, and compared its performance with the BMW M5. The veteran noted that the Model S has better handling than the BMW, and is more enjoyable to drive.

Tesla Motors Inc (NASDAQ:TSLA)’s Model S is showing immense success. Model S, priced around $70,000, is positioned to the high-end customers and luxury car market. However, Tesla does not plan to be only a luxury car maker forever. On many occasions, the car company has stated that it wants to make an affordable electronic car by fiscal 2017, which will be targeted to the budget consumers.

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