Tesla (TSLA) To Unveil Major New Product on April 30: Report

Shares of Tesla Motors (TSLA) are up almost 3% to $191 in recent trading, following a tweet from CEO Elon Musk, saying the electric car-maker will be unveiling a major new product line at its Hawthorne Design Studio on April 30th. While Musk didn’t offer any other hints of what’s to come, he stated that it will not be a car. The Verge notes that last month Musk said his company would show off a battery that would be for use in people’s houses or businesses “fairly soon.”

On trading measures, Tesla Motors, Inc., currently valued at $23.94 billion, has a median Wall Street price target of $275.00 with a high target of $400.00. Approximately 5 million shares have already changed hands, compared to the stock’s average daily volume of 5.04 million.

In the past 52 weeks, shares of Palo Alto, California-based company have traded between a low of $177.22 and a high of $291.42 with the 50-day MA and 200-day MA located at $201.10 and $223.93 levels, respectively. Additionally, shares of TSLA trade at a P/E ratio of 3.02 and have a Relative Strength Index (RSI) and MACD indicator of 43.38 and -6.01, respectively.

TSLA currently prints a one year loss of about 10.77% and a year-to-date loss of around 16.82%.

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