NEW YORK (TheStreet) -- Shares of Tesla Motors  (TSLA - Get Report) were flat at $244.52 in afternoon trading Wednesday after a report that the electric car maker plans to introduce new car passing capabilities into its Model S, according to the Wall Street Journal.

The Journal reports that the Silicon Valley company will soon install semiautonomous features into its newer Model S sedans that will include the capability to pass other cars without the need for any action by the driver. All the driver would have to do to activate the feature is hit the turn signal, people familiar with the technology told the Journal.

Hitting the turn signal would inform the car that it can pass, but it also makes clear that the driver has decided that the maneuver is safe.

Insight from TheStreet's Research Team

Dan Fitzpatrick commented on Tesla in a recent post on Real Money. Here's what he had to say about the stock:

Last week, Tesla reported earnings that lost less money than analysts had expected. This was considered a "beat on earnings across the board." The stock first traded higher after-hours; then it traded lower as traders gambled about what aspect of the report would come out next. The trading was so volatile that I wondered if someone's cat had jumped up on the trading desk and was playing with the keyboard. But ultimately, the stock ultimately gapped down to test the 20-day Moving Average on high volume and then shot back up 7% from the low, and 2.76% from the prior day's close.

After that little move, the stock drifted sideways until this morning, when it started breaking out. But the breakout is stalling out and not continuing to run.

TSLA Minute Chart

This one-minute chart illustrates what happened in the morning trading rotation. After trading in a very tight range, traders decided that they had some appetite for risk. After all, the cars are cool and the report wasn't as bad as expected. Also, you can look at the daily chart and see that this stock has actually been consolidating during the prior two weeks and was just starting a new uptrend after a triple bottom reversal in January through March.

After testing $190 on three different occasions and then breaking through this downtrending trendline, the stock has gone through two periods of tight consolidation as profits are taken by selling to traders willing to pay the higher price. I have some calls on this stock and expect them to work quite will if TSLA clears a $242.10 buy point.
- Dan Fitzpatrick, 'Tesla Reverses Its Misfortune' originally published 5/11/2015 on  Real Money
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Separately, 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, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity."

You can view the full analysis from the report here: TSLA Ratings Report