After the market on Wednesday, Eastern Time, Tesla released the latest financial report with overall performance data exceeding expectations, greatly alleviating people's concerns about Tesla's second-quarter performance.
Affected by this, on Thursday, Eastern Time, Tesla closed up 9.78%, with its market value rising by US$75.3 billion, or approximately RMB 509.5 billion. So far, Tesla's stock price has risen for the seventh consecutive trading day, and is expected to close at its highest level since May 6.
As Tesla's stock price soared, traders who shorted the stock lost more than $1 billion (about 6.8 billion) in book losses overnight, which brought their losses to $2.67 billion this month.
Of course, none of this will weaken Tesla's short sellers' strong performance so far, with profits by market capitalization reaching $6.34 billion in 2022.
According to the latest data from S3 Partners, Tesla is the stock with the most shorted Wall Street , with nearly 3% of its outstanding stocks being short positions.
Tesla's net profit was US$2.26 billion, an increase of 98% year-on-year
Previously, Tesla released its latest financial report after the market trading on Wednesday Eastern Time. Due to the suspension of the Shanghai factory, many people in the market have been worried that Tesla's second-quarter performance will "explode". The overall performance data of this financial report exceeded expectations, greatly alleviating people's concerns about Tesla's second-quarter performance.
According to financial report data, in the second quarter of 2022, Tesla's total revenue reached US$16.9 billion, a year-on-year increase of 42%. In terms of net profit, Tesla achieved a net profit attributable to shareholders of US$2.26 billion in the second quarter, an increase of 98% year-on-year, achieving profits for 12 consecutive quarters. In terms of delivery volume of
, Tesla's delivery volume in the second quarter reached 255,000 units, an increase of 27% year-on-year and a decrease of 18% month-on-month, of which 239,000 units were delivered in the second quarter. Ping An Securities pointed out that the decline in sales is mainly due to the closure of Shanghai factories and tight supply chains due to the epidemic. Looking ahead, Ping An Securities expects that Tesla's production capacity is likely to exceed 2 million units by the end of 2022. In terms of gross profit margin, in the second quarter, the gross profit margin of Tesla Auto business still declined, reaching 27.9%, a year-on-year decline of 0.5pct and a month-on-month decline of 4.9pct. Ping An Securities analysis pointed out that although Tesla's average bicycle price increased in the second quarter, the increase in the amortization cost of bicycles led to a decline in gross profit margin.
Analysts are optimistic about the performance of the second half of the year
Although Tesla's second quarter report's performance declined month-on-month, many analysts are still optimistic about its performance in the second half of the year.
Oppenheimer analyst Colin Rusch pointed out that in a challenging quarter, Tesla's manufacturing performance in the second quarter was basically flat, and the growth of non-automatic business and stronger-than-expected operating leverage also brought some significant technological and business model gains. The analyst believes that Tesla is ahead of its peers in terms of product cost and value.
Baird analyst Ben Kallo pointed out that Tesla's second-quarter performance benefited from some non-auto factors, but with the increase in new production and the continued reduction in costs, the performance related to the automobile business should continue to rebound in the second half of this year.
Wells Fargo analyst Colin Langan pointed out that Tesla's Shanghai factory was closed for some time in the second quarter, but Tesla management still said that driven by the efficiency brought by the further expansion of the scale of the factory in Berlin and Austin, delivery volume will be "record-breaking" in the second half of this year.
Ping An Securities gave investment advice, saying that Tesla was subject to major constraints on production capacity and supply chain in the second quarter, but it still achieved stable operating performance, which showed that Tesla was stronger than its competitors' operating efficiency and was optimistic about the opportunities for the automotive industry led by Tesla, the leader of smart car .
Jefferie analyst Philippe Houchois pointed out that Tesla's second-quarter performance fell month-on-month, but all key performance data exceeded expectations driven by rising prices. The analyst said the report was relieved considering possible problems in the second quarter.
However, Tesla's second-quarter earnings report released after the market closed on Wednesday eased many such concerns. The company reiterated its production prospects this year and said demand is not a problem.
In addition, Tesla's efforts to "accelerate the world's transition to sustainable energy" have achieved remarkable results, with solar installed capacity reaching a record four-year record in the second quarter and will continue to grow. At the same time, the charging network is constantly expanding to inspire more people to be enthusiastic about a sustainable future with a more convenient and better green life. After the financial report of
was announced, Wells Fargo raised Tesla's target to $830. Oppenheimer analyst Colin Rusch maintained Tesla's outperformance rating with a target price of $1,293. Berenberg analyst Adrian Yanoshik lowered Tesla's target price to $850 and maintained a hold rating.
