Investors apparently are expecting good news from Tesla when it reports earnings next week as the company’s stock floated above $200 a share today before closing at record high $199.63.
It was the second time this week that the Palo Alto, Calif.-based electric vehicle maker’s stock broke through the $200 barrier. In fact, it set a new record today of $202.72.
Analysts surveyed by FactSet expect the car maker to report fourth-quarter earnings of 19 cents a share on $646 million in sales, according to MarketWatch.com.
The company’s been enjoying a nice run of good publicity lately, led by the introduction of the vehicle in China in January. The company fielded several hundred orders during the two days it was accepting them in its new Beijing showroom.
Also the company noted at the Detroit Auto Show that Model S sales in the fourth quarter were 20% higher than it expected. Finally, it doesn’t hurt to have a supercar industry icon sing your product’s praises.
Christian von Koenigsegg – founder of the Swedish supercar builder – claims his Model S is more fun to drive than a BMW M5, according to Auto Motor and Sport.
If they company meets the analysts’ expectations, it would a marked turnaround from the year ago results: a loss of 65 cents on $306 million in sales a year ago. The company’s stock price has risen more than 400% in the last year. Tesla shares closed at $38.45 a year ago.
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The rise in stock price comes after the company had to deal with its first stretch of negative publicity due to three incidents where the Model S caught fire after striking something on the roadway.
(Click Here to see how China’s January sales are following those in the U.S.)
The National Highway Traffic Administration is investigating the issue, but Tesla’s founder, Elon Musk, is confident there will not be a recall and the German version of the U.S. safety agency has already cleared the company of any blame in the fires.
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Tesla announces its fourth-quarter 2013 and full-year earnings on Wednesday, Feb. 19.