Tesla Shares Cross $255 For First Time Since November

Shares of Tesla Motors Inc (NASDAQ: TSLA) traded above the $255 on Tuesday.

Tesla's stock traded above $250 per share on Monday, but failed to hold on to the gains. Tuesday's session is showing strong buying momentum for the stock with no signs of cooling down.

Prior to Monday, the last time Tesla's stock traded above $250 was back in September of last year. Shares of Tesla traded as low as $141.05 just two months ago.

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Tesla's stock has surged more than 25 percent over the past month and are now higher by more than 32 percent over the past year.

Investors and traders appear to be unfazed by Tesla's lower-than-expected delivery figure for the first quarter. It's likely the investment community were encouraged by the company's commentary that it fell short of expectations due to parts shortages from suppliers.

Wall Street's commentary may have also boosted Tesla's stock higher. Many of the Street's top analysts defended Tesla's sales figure and outlook. Trip Chowdhry of Global Equities Research maintained an Overweight rating on Tesla's stock with a price target that remains unchanged at $385.