Deutsche Bank (DB) Boosted Its Tesla Stake by 20.8%
Elevate Your Investing Strategy:
Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
It is also worth noting that Tesla's stock is highly active, with an average daily trading volume of 104.7 million shares. This shows that it remains an appealing stock among investors despite its well-known volatility. In fact, Deutsche Bank is not alone in upping its position, as Charles Schwab Investment Management (SCHW) increased its Tesla holdings by 4.9% in Q1 to bring its total to over 18.17 million shares.
Therefore, institutional support for Tesla remains strong, with hedge funds and large investors collectively holding about 66.2% of the company's stock. Interestingly, recent momentum in TSLA shares has been fueled by developments across several key areas. Indeed, Tesla's Robotaxi operations in Austin and the Bay Area are expanding, and CEO Elon Musk announced that an upgraded FSD system will soon be released to consumers. In addition, Tesla China is preparing to launch the Model Y L, which is a six-seat version of its top-selling SUV with an extended wheelbase, before the close of the third quarter.
What Is the Prediction for Tesla Stock?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 14 Buys, 15 Holds, and eight Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $307.23 per share implies 9.9% downside risk.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
30 minutes ago
- Yahoo
Oil prices dip ahead of Trump-Putin talks
Oil (BZ=F, CL=F) Oil prices dipped in early European trading on Friday morning, ahead of US president Donald Trump's meeting with Russian president Vladimir Putin in Alaska later in the day, to discuss the war in Ukraine. Brent crude (BZ=F) futures fell 0.6% to $66.44 per barrel at the time of writing, while West Texas Intermediate futures (CL=F) declined 0.7% to $63.51 a barrel. The talks are scheduled to take place at 8.30pm BST, so any developments would likely emerge after the US market close. This will be the first time Trump and Putin have met one-on-one in six years, as the US president tries to broker an end to Russia's war in Ukraine. Read more: Markets higher ahead of Trump-Putin summit in Alaska There are hopes that talks could lead to a potential end to sanctions limiting supply of Russian oil to other markets. In an interview with Fox News Radio on Thursday, Trump suggested that if the talks go well this could pave the way for a second meeting including Ukrainian president Volodymyr Zelensky, but also estimated that there was a 25% chance that the meeting would not be successful. Jim Reid, global head of macro research and thematic strategy at Deutsche Bank ( said: "[Trump] described this potential follow-up as 'very, very important', indicating it could be the forum for striking a deal. Our [economist] Peter Sidorov notes that while an imminent breakthrough is unlikely, the summit will still be an important signpost for US-Russia relations and the war in Ukraine." Gold (GC=F) Gold prices edged slightly higher on Friday morning, as investors remained cautious ahead of the Trump-Putin summit. Gold futures (GC=F) rose 0.1% to $3,387.20 per ounce at the time of writing, while spot gold advanced 0.2% to $3,343.85 per ounce. The precious metal is on course to end the week in the red, despite inflation data released on Thursday coming in hotter than expected. Gold is considered to act as a hedge against inflation, as when price growth erodes purchasing power, investors tend to look to the precious metal as a store of wealth. Stocks: Create your watchlist and portfolio However, a higher-than-expected producer price index (PPI) reading on Thursday, dented investor hopes of a bigger 50-basis-point interest rate cut by the US Federal Reserve. Gold and interest rates tend to have an inverse relationship, as higher rates weaken the appeal of the precious metal as a non-yielding investment. US PPI for July showed inflation for businesses rose 0.9% over the prior month, well ahead of the 0.2% increase that was forecast, data from the Bureau of Labor Statistics showed Thursday. On an annual basis, prices rose 3.3%, which was also ahead of the 2.5% expected. According to a Reuters report, Tim Waterer, chief market analyst at KCM Trade, said: "Gold is still grappling with the aftermath of the PPI jump, which raised questions over just how far the Fed may be inclined to reduce rates this year." Pound (GBPUSD=X, GBPEUR=X) The pound gained 0.2% against the dollar (GBPUSD=X) on Friday morning, to trade at $1.3555, helped by a weaker greenback. The US dollar index ( which measures the greenback against a basket of six currencies, fell 0.4% on Friday morning to 97.91. The moves come as Trump and Putin's talks loom, while investors also digest a raft of economic data both in the UK and the US released this week. Sterling hit a one-month high on Thursday, after UK economic growth data came in better than expected. Figures from the Office for National Statistics (ONS) showed gross domestic product (GDP) grew by 0.3% in the second quarter, which was stronger than the 0.1% expected, though it still marked a slow from a rate of 0.7% for the first three months of the year. Attention will now turn to the release of US retail sales data and industrial production data for July, due out later in the day. Read more: Analysts' top emerging market fund and trust picks Richard Hunter, head of markets at Interactive Investor, said: "The central theme of the US consumer will come under the spotlight today with the release of retail sales figures, where further detail will be sought as to sentiment among this key driver of growth. "Tariff impacts and a slightly weakening jobs market are feared to have brought purchases forward in previous month, leaving this release vulnerable to disappointment." In other currency moves, the pound was little changed against the euro (GBPEUR=X), trading at €1.1605 at the time of writing. More broadly, FTSE 100 (^FTSE) hovered around the flatline on Friday morning trading at 9,183 points. For more details, on market movements check our live coverage here. Read more: What are bitcoin ETNs? EU economic growth slows to 0.2% in second quarter How to contribute to a loved one's pensionError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Why Tesla (TSLA) Is Scaling Back In-House Chips and Teaming Up With Nvidia
Tesla, Inc. (NASDAQ:TSLA) is one the On August 11, Morgan Stanley maintained the stock as Overweight and also reiterated it as its top pick. The firm highlighted reports that Tesla is scaling back its in-house custom silicon computing ambitions. Instead, it is focusing more on partnerships with suppliers like Nvidia to enhance its inference capabilities. david-von-diemar-ZBWn5DvO0hg-unsplash Analysts on Wall Street currently have a consensus 'Buy' rating on the stock. The average price target of $329 implies a 3.47% upside; however, the Street-high target of $500 implies an upside of 46.7%. Tesla, Inc. (NASDAQ:TSLA) is an automotive and clean energy company that leverages advanced artificial intelligence in its autonomous driving technology and robotics initiatives. While we acknowledge the potential of TSLA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
After repeated explosions, new test for Musk's megarocket
Elon Musk's SpaceX announced Friday that its Starship megarocket is scheduled to blast off on a new test flight next weekend after recent attempts have ended in fiery explosions. The biggest and most powerful launch vehicle in history is planned to return Americans to the Moon -- and is central to the dreams of colonizing Mars envisioned by Musk, the world's richest person. But repeated explosions that sent debris raining down over Caribbean islands and disrupted flights have piled pressure onto SpaceX to pull off a smoother trial run. The rocket's 10th test flight is set to launch as soon as August 24 from the company's Starbase facility in Texas, SpaceX said on its website. During two test flights earlier this year, the rocket's upper stage -- which is the spacecraft intended to carry crew and cargo -- erupted in fiery cascades not long after launch. Starship managed to make it to space during the last test in late May, however it then blew up when a fuel leak caused it to lose control. The rocket's propulsion system was also supposed to execute a planned splashdown in the Gulf of Mexico -- but it disintegrated before reaching the water. Standing 403 feet (123 meters) tall, the black-and-white behemoth is designed to eventually be fully reusable and launch at relatively low cost. SpaceX has been betting that its "fail fast, learn fast" ethos -- which helped it dominate commercial spaceflight -- will once again pay off. But the latest string of setbacks, which also includes an explosion during a routine ground test in June, has raised serious questions about Starship's progress. Musk -- who is known for making extremely ambitious proposals -- maintains that the rocket will launch its first uncrewed missions to Mars next year. SpaceX has also been sharply criticized over the impact its launches have on people and the environment near where its rockets blast off. In June, Mexican President Claudia Sheinbaum threatened to sue SpaceX over falling debris and contamination from its launches. More Starship tests are expected in the coming months, however, after the US aviation regulator approved the number of its annual launches increasing from five to 25. cha/dl/mlm
