NEW YORK (TheStreet) -- Tesla Motors Inc. (TSLA) shares are up 4.3% to $226.39 in trading Wednesday.
The move higher came after news that Tesla had doubled its typical sales level in Norway during March, making it the number one electronic vehicle automaker in the country.
The company sold 1,493 Model S vehicles in Norway, outpacing second place Nissan Motor Co.'s (NSANY) Leaf by almost triple the number of electric vehicles sold.
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Sales in the first three months of 2014 have already surpassed 2013's totals. Tesla sold 1,991 vehicles in Norway during all of 2013 compared to 2,056 vehicles sold so far this year.
TheStreet Ratings team rates TESLA MOTORS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TESLA MOTORS INC (TSLA) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's profit margins have been poor overall."