Tesla Shares Rise Again

TSLA is the largest electric vehicle (EV) manufacturer by market share and has an energy storage business as well. Tesla has captured an industry-leading 17% of battery EV sales through October and next year looks to add a more affordable model to its offerings. Still, the company’s biggest opportunities may be in autonomous driving and robotics (including humanoids), though those may not bear fruit for some time.

Financially, TSLA’s third-quarter revenue grew 8% year-over-year to $25.2 billion, mostly due to increased vehicle deliveries as well as energy generation and storage. The company’s per-share earnings were $0.62. That’s a 17% increase from the previous year, despite economic challenges, largely due to record vehicle deliveries (Cybertruck is now the third best-selling EV in the U.S.)

Big Money has noticed the stock’s turnaround.

It’s no wonder TSLA shares are up nearly 40% in the past month – and they could rise more. MAPsignals data shows how a rare bullish signal reflects Big Money investors are betting heavily on the forward picture of the stock.

Big Money Buying Boosts Tesla

Institutional volumes reveal plenty. In the last six months, TSLA has enjoyed strong investor demand, which we believe to be institutional support.

Each green bar signals unusually large volumes in TSLA shares. They reflect our proprietary inflow signal, pushing the stock higher:

Plenty of technology names are under accumulation right now. But there’s a powerful fundamental story happening with Tesla.

Tesla Fundamental Analysis

Institutional support and a healthy fundamental backdrop make this company worth investigating. As you can see, TSLA has had strong sales and earnings growth:

• 3-year sales growth rate (+46.9%)
• 3-year earnings growth rate (+263.5%)

Source: FactSet

Also, EPS is estimated to ramp higher this year by +38.7%.

Now it makes sense why the stock has been powering to new heights. TSLA is once again delivering strong financial performance.

Marrying great fundamentals with our proprietary software has found some big winning stocks over the long term.

Tesla has been a top-rated stock at MAPsignals in the past, and now it’s roaring back again. That means the stock has unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.

It just made the rare Top 20 report for the first time in a year, and there could be more growth on the horizon. The blue bar below shows when TSLA was a top pick…and it could rise more:

Tracking unusual volumes reveals the power of money flows.

This is a trait that most outlier stocks exhibit…the best of the best. Big Money demand drives stocks upward.

Tesla Price Prediction

The TSLA rally isn’t new at all. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.

Disclosure: the author owns TSLA in personal and managed accounts at the time of publication.

If you are a Registered Investment Advisor (RIA) or are a serious investor, take your investing to the next level, learn more about the MAPsignals process here.