Tesla Motors (NASDAQ:TSLA) traded down more than 4% Wednesday afternoon as another analyst downgrade hit the stock.
The downgrade has come about as the firm believes that the current price fully reflects the opportunities that exist for the company.
In other Tesla Motors news, insider Jeffrey B.
The dip comes after more than three months of steady gains, minus the volatility that has characterized Tesla’s stock price for the second half of 2014. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Erickson downgraded Tesla due to the risk/reward being more balanced due to the shares moving higher from $185 at the end of March to $268 yesterday (where it traded up to when positive previews for June quarter Model S sales were published).
Analyst Brad Erickson lowered his rating on Tesla from Overweight to Sector Weight, removing his price target. The analysts noted that the move was a valuation call.
Tesla Motors Inc (NASDAQ:TSLA) had its target price per share raised by Deutsche Bank from $245.00 to $280.00 in analysts report sent to investors on Tuesday, 7 July.
Tesla Motors Inc. has a P/B ratio of 39.04.
There appears to be no respite for Tesla Motors Inc (NASDAQ:TSLA) shares downfall that began on Tuesday. Tesla Motors has a one year low of $181.40 and a one year high of $291.42.
In looking at where the stock is trading on a technical level, the stock is trading +0.08% away from its 50 day moving average of 256.85. Many people expect the company to have a significant impact on the auto market, and they have been very actively researching and developing their models according to what the customers want.
Tesla Motors (NASDAQ:TSLA) last released its earnings data on Wednesday, May 6th. The company had revenue of $939.88 billion for the quarter, compared to the consensus estimate of $1.04 billion. Consensus estimates show that the company will report a $0.03 loss per share in FY15, and EPS of $3.42 in FY16. The company’s revenue for the quarter was up 54.8% on a year-over-year basis. The sell-side firm also reduced Tesla’s earnings estimates due to lower lease revenues.
Palo Alto, Calif.-based Tesla Motors designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components.
Tesla’s own CEO, Elon Musk, is quite confident in the company’s future himself, as he recently talked about his views for the future in front of the press. The Company also designs, develops, manufactures and sells electric vehicle powertrain components to other automotive manufacturers.