Another stock that insiders are snapping up shares in here is Tesla Motors (TSLA), which designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components. Insiders are buying this stock into some modest weakness here, since shares are down by 12% in the last six months.
Tesla Motors has a market cap of $2.98 billion and an enterprise value of $3.22 billion. This stock trades at a premium valuation, with a forward price-to-earnings of 74.34. Its estimated growth rate for this year is -35.5%, and for next year it's pegged at 112.9%. This is not a cash-rich company, since the total cash position on its balance sheet is $210.55 million and its total debt is $438.97 million.The CEO and beneficial owner just bought 35,398 shares, or about $999,000 worth of stock, at $28.25 per share. From a technical perspective, TSLA is currently trading below both its 50-day and 200-day moving averages, which is bearish. This stock has been trending range bound for the last two months, with shares moving between $27.30 on the downside and $32.78 on the upside. A move outside of that range in the near future will likely setup the next major trend for TSLA. If you're in the bull camp on TSLA, then I would look for long-biased trades as long as it's trending above its 200-day at $30.97, and then once it manages to break out above some near-term overhead resistance at $32.78 a share with high volume. Look for a sustained move or close above that level with volume that hits near or above its three-month average action of 1,420,580 shares. If that breakout triggers soon, then look for TSLA to re-test or take out its next significant overhead resistance level at $36 a share.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV