Tesla’s Model 3 sedan has been awarded the top safety rating by the Insurance Institute of Highway Safety (IIHS) and has become the first Tesla vehicle to do so, Reuters reported.
Tesla shares closed higher for the sixth time in the past thirteen trading sessions on NASDAQ on Thursday. It has also been the sharpest daily surge since September 11th. The stock went up 1.28% ($3.11) to $246.60, after touching an intraday high at $247.94 and an intraday low at $244.91.
Shares of Tesla Inc have retreated 25.90% so far in 2019 compared with a 24.83% gain for the benchmark index, Nasdaq 100 (NDX).
In 2018, Tesla’s stock went up 6.89%, thus, it outperformed the Nasdaq 100, which registered a 1.04% loss.
Tesla’s Model 3 has been awarded IIHS’s highest rating, top safety pick+, since the vehicle earned good ratings across the board for crash-worthiness.
The IIHS said that the Model 3’s structure had held up well in the driver-side small overlap front test.
In August, the US electric car maker announced the launch of an insurance service, meant to offer lower rates for drivers in California because of safety features on its vehicles.
Analyst stock price forecast and recommendation
According to CNN Money, the 30 analysts, offering 12-month forecasts regarding Tesla Inc’s stock price, have a median target of $241.00, with a high estimate of $530.00 and a low estimate of $140.00. The median estimate represents a 2.27% downside compared to the closing price of $246.60 on September 19th.
The same media also reported that at least 10 out of 32 surveyed investment analysts had rated Tesla Inc’s stock as “Hold”, while other 10 – as “Buy”. On the other hand, 9 analysts had recommended selling the stock.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
