Orlando, FL -- (SBWIRE) -- 09/03/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On InvenSense Inc (NYSE:INVN), Tesla Motors Inc (NASDAQ:TSLA).
InvenSense Inc (NYSE:INVN) shares increased 1.88% to $17.87. Investment analysts at Needham & Company began coverage on shares of INVN in a note issued to investors on August 22. The firm set a “buy” rating and a $20.00 price target on the stock.
Additionally, the company on July 30 announced its first quarter fiscal year 2014 results. Net revenue for the first fiscal quarter of 2014 was $55.9 million, up from $39.2 million for the first fiscal quarter of 2013. Net income for the first fiscal quarter of 2014 was $10.3 million, up from $7.7 million for the first fiscal quarter of 2013. Diluted earnings per share for the first fiscal quarter of 2014 was $0.12, up from $0.09 for the first fiscal quarter of 2013.
Are investors worried about the recent updates with INVN? Find out with a free trend analysis HERE
Tesla Motors Inc (NASDAQ:TSLA) shares gained 1.77% to $169. The company on August 30 unveiled its highly anticipated European Supercharger network, energizing stations across Norway that enable Model S owners to conveniently travel for free between cities along well-traveled highways throughout the country.
Additionally, the company on August 7 said its second-quarter loss narrowed sharply as the luxury electric-car maker said it delivered more vehicles than expected during the quarter, bolstering revenue and resulting in a surprise adjusted profit.
The company reported a loss of $30.5 million, or 26 cents a share, compared with a year-earlier loss of $105.6 million, or $1 a share. Tesla reported an adjusted profit of 22 cents compared to a prior-year loss of 89 cents. Revenue soared to $405.1 million from $26.7 million a year ago. Analysts expected Tesla to report a loss of 17 cents a share on $383 million in revenue.
Moreover, Wedbush analysts have raised their price target on TSLA shares from $110 to $150 and are maintaining a Neutral rating on the stock.
Is TSLA going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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