Recent short interest data for the 3/15/2016 settlement date shows a decrease in short interest for shares of Tesla Motors, Inc. (TSLA). As of March 15, the short interest for the electric car maker totaled 32,226,674 shares, as compared to 34,019,648 shares since February 29, a decline of more than 5%. Average daily volume [AVM] for the same period fell by 430,272 to 4,672,868 shares from 5,103,140 shares. It is worth mentioning that ticker’s short interest has jumped by more than 8.7 million shares, or 37.4%, from the 7/15/2015 settlement date.
Based on the latest AVM, the days-to-cover ratio – a metric that includes both the total shares short and the average daily volume of shares traded – is currently 6.90 days. Days-to-cover for TSLA increased to 6.90 for the March 15 settlement date, as compared to 6.67 days at the February 29 report.
Tesla Motors, Inc. has a beta of 0.99 and a short float of 32,226,700. In the past 52 weeks, shares of Palo Alto, California-based company have traded between a low of $141.05 and a high of $286.65 and are now at $245.75.
Shares are up 21.72% year-over-year ; down 4.27% since the beginning of the year.