Tesla to float an additional US$500M worth of shares

Vetr upgraded shares of Tesla Motors (NASDAQ:TSLA) from a hold rating to a buy ratingin a report published onMonday, Market Beat reports.

Tesla had 127.1 million shares outstanding as of July 30. Jefferies Group initiated coverage on shares of Tesla Motors in a research note on Tuesday, May 5th.

The underwriters have a 30-day option to buy up to $75 million of additional shares, Tesla said. Finally, Dougherty & Co restated a “buy” rating on shares of Tesla Motors in a research note on Thursday, August 6th.

Musk’s comments on last week’s financial-results call seem to indicate that while Tesla will likely deliver at least a handful of Model X vehicles before the end of September, volume production won’t commence until December-and possibly later. The stock has a consensus rating of “Hold” and an average target price of $283.78.

On a technical level the stock has a 50 Day Moving Average of 136.02.

The publication reveals that Tesla Motors Inc (NASDAQ:TSLA) will announce its foray into parking garages later today, a move the company is making for the first time.

There are a number of sell-side research firms which cover Teleflex Incorporated (NYSE:TFX) and offer projections on earnings and future stock movement. The business’s revenue for the quarter was up 39.6% compared to the same quarter a year ago. During the same period in the previous year, the firm earned $0.11 earnings per share. The electric vehicle producer reported ($0.48) EPS for the quarter, topping the Thomson Reuters consensus estimate of ($0.60) by $0.12.

As of June 30, Tesla has $1.15 billion in total worth which is significantly lower compared to the $2.67 billion is has in 2014 on the same month. The stock was sold at an average price of $264.33, for a total transaction of $2,643,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The CEO is also planning to raise more capital and added that he is open in selling more stocks. The disclosure for this sale can be found here. The Business designs, develops, manufactures and sells electric vehicle powertrain parts to other automotive producers. The company also lost $359 million after it lost grasp of the luxury vehicle market.

The announcement is the latest in Tesla’s bid to expand its presence in Australia off the back of the opening of its first showroom in Sydney in late 2014.

Considering the dense urban landscape in New York City, the company considers it suitable to introduce charging facilities in a parking rather than building any more of huge Supercharger stations.