Tesla (TSLA) Stock Snaps Eight-Week Losing Streak Ahead of Earnings Wednesday

TLDR

• Tesla stock jumped 11% over the past five trading days, ending an eight-week losing streak.
• The rally was helped by news of a US-Iran cease-fire extension and broader market gains.
• Mirae Asset raised its Tesla stake by 15.7% in Q4, adding over 261,000 shares worth roughly $867M.
• Q1 earnings are due April 22, with Wall Street expecting EPS of $0.36, up from $0.27 a year ago.
• Analyst sentiment is mixed: 45% rate TSLA a Buy, with a consensus Hold and average price target of $398.61.

Tesla stock is back in the green after a rough stretch. The electric vehicle maker’s stock climbed 0.7% to $391.41 in premarket trading on Friday, capping a five-day gain of 11%.

Tesla, Inc., TSLA

That puts an end to an eight-week losing run that had sent the stock down 16%. Investors had grown frustrated with slow car sales and rising capital spending.

The rebound came alongside a lift in broader markets. News that the US and Iran are working to extend their cease-fire past April 22 gave equities a boost. S&P 500 and Nasdaq futures were both up 0.2% Friday morning.

General Motors was up 1.2% and Ford gained 0.6% ahead of the open, suggesting the auto sector broadly got a lift.

Q1 Earnings on Deck

All eyes now turn to April 22, when Tesla reports Q1 results after the close. Wall Street is expecting earnings per share of $0.36, compared to $0.27 in the same period last year.

Investors are watching closely for any update on the robotaxi expansion. Bullish analysts see autonomous taxi services as a major growth driver for the stock.

Tesla’s last quarterly report, for Q4, beat expectations. The company posted EPS of $0.50 against a $0.45 estimate, on revenue of $24.90 billion — though that was down 3.1% year-over-year.

Institutional Buying Picks Up

Mirae Asset Global Investments raised its Tesla position by 15.7% in Q4, picking up 261,933 additional shares. The firm now holds 1,929,041 shares worth roughly $867.5 million, making Tesla its ninth-largest holding at 2.4% of its portfolio.

Cathie Wood’s ARK also bought around 81,000 shares recently, a move that got plenty of attention.

66.2% of Tesla stock is held by institutional investors. Insiders, meanwhile, have been selling. Over the past 90 days, insiders sold 53,804 shares worth about $20.9 million, including a director and the CFO.

On the analyst front, UBS upgraded TSLA from Sell to Neutral this week. TD Cowen trimmed its target but held its Buy rating. CICC has a $500 target with an Outperform rating. Zacks, on the other hand, recently cut TSLA to Strong Sell.

Tesla got a regulatory win in Europe, with the Netherlands approving supervised Full Self-Driving. Elon Musk also announced a tape-out milestone on Tesla’s AI5 chip, which reinforced the company’s push into physical AI.

Not everything is clean, though. Reports show SpaceX bought roughly one in five Cybertrucks sold, raising questions about retail demand. Tesla also faces potential legal costs north of $14.5 billion tied to Autopilot and FSD-related lawsuits.

The stock opened Friday at $388.90. Its 52-week range runs from $222.79 to $498.83.

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