SAN FRANCISCO (MarketWatch) — Shares of Tesla Motors Inc. traded Monday at their highest level since late February as investors flocked to the stock following news the electric-car maker had delivered a record number of cars in the first quarter.

Tesla TSLA, +4.42% said Friday it had delivered 10,030 Model S sedans in the quarter. Tesla had previously told analysts to expect 9,500 cars in the quarter.

Shares traded as high as $207.75, their highest intraday level since Feb. 27. If they close around current levels, it will be their highest close since Feb. 26. Tesla shares were also the best performing on the Nasdaq 100 NDX, -1.29% on Monday. Here’s how they performed in the past week:

Monday was the market’s first chance to react to Tesla’s delivery numbers since U.S. stock markets were closed Friday in observance of Good Friday.

Tesla had long stuck to its practice of disclosing delivery numbers — its proxy for sales — only when announcing its quarterly results rather than at the end of each month, like most other car makers. Tesla said it now plans to publish its delivery number promptly at the end of each quarter.

Some analysts also hailed the news as a step toward more transparency at Tesla. The latest quarterly delivery number was released through a press release as well as a government filing, in contrast with recent Tesla news arriving via Chief Executive Elon Musk Twitter feed.

Tesla “bears” question whether demand for the company’s cars can continue at its recent robust pace, Pacific Crest analysts said in a note Monday.

“Disclosing end-of-quarter deliveries from now on shows management’s confidence in the sustainability of demand,” they said. “This announcement only reinforces our confidence in the company’s ability to sustain demand, with production being the primary upside limitation to the outlook of 55,000 total deliveries in 2015.”