Tesla Short Interest Soars To 21.16%, Making It 4th Most Shorted Stock Currently: Here's What Its Charts Indicate

Core Insights - Tesla Inc. has seen a significant increase in short interest, rising over 21% to 81.331 million shares, making it the fourth most shorted stock in the U.S. market [1][3][4] Short Interest and Trading Volume - The short interest increased from 67.126 million to 81.331 million shares, representing about 2.9% of the company's publicly available shares as of March 14 [1][2] - The short interest surged by 21.16% from the previous settlement date of February 28, with average daily trading volume rising from 84.714 million to 125.16 million shares [2] Market Sentiment - The increase in short interest indicates lower confidence among investors, as noted by tech analyst Beth Kindig [3] - Tesla's notional short interest is now the fourth-largest, following Nvidia, Microsoft, and Apple [4] Technical Analysis - Technical indicators suggest a bearish trend for Tesla's stock, which closed at $268.46, remaining below its 8, 50, and 200-day moving averages [4] - The relative strength index is at 47.30, indicating a neutral zone, while the MACD shows a bearish trend with a score of -11.6, although the histogram indicates a potential bullish sign within the bearish trend [5] Price Action - Tesla shares were down 1.37% in premarket trading, with a year-to-date decline of 29.22%, despite a 61.11% increase over the last year [6] Analyst Ratings - A consensus "hold" rating from 29 analysts suggests an average price target of $309.55, with a potential upside of 67.86% based on recent ratings from Stifel, Deutsche Bank, and Wedbush averaging $450 [8]