Tesla Not Phased By General Motors Battery Prices

Tesla Motors (NASDAQ:TSLA) had its price objective trimmed by Evercore ISI from $320.00 to $310.00 in a report released on Wednesday morning, MarketBeat.com reports.

Analysts mean recommendation for the stock is 2.70.

The company recently submitted their financial report for the third quarter and during the event, they spoke at length about their future plans. Oppenheimer cut shares of Tesla Motors to a hold rating in a research note on Tuesday, October 6th. Barclays downgraded General Motors Company from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $44.00 to $36.00 in a report on Thursday, July 16th.

Morgan Stanley reaffirmed their buy rating on shares of Tesla Motors (NASDAQ:TSLA) in a report published on Wednesday morning, Market Beat Ratings reports. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share. The stock has a 50 day moving average price of $14.59 and a 200-day moving average price of $14.81. The stock was sold at an average price of $257.61, for a total transaction of $1,288,050.00. (NASDAQ:TSLA) announced that there will be a new Chief Financial Officer in the company as its current CFO, Deepak Ahuja will be retiring this year. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The company’s stock had a trading volume of 4,125,032 shares. Following the transaction, the insider now directly owns 134,902 shares in the company, valued at $34,070,849.12. The disclosure for this purchase can be found here.

The Palo Alto company doesn’t recommend taking your hands off the wheel while the vehicle is in autopilot mode. Tesla Motors has a 12-month low of $181.40 and a 12-month high of $286.65. The company’s market cap is $29.84 billion.

General Motors Company (NYSE:GM): On Tuesday heightened volatility was witnessed in General Motors Company (NYSE:GM) which led to swings in the share price. The auto manufacturer reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. During the same period a year ago, the firm earned $0.97 earnings per share. The business earned $963.80 million during the quarter, compared to analysts’ expectations of $1.26 billion. In the third quarter, the company only delivered 11,600 cars, so the fourth quarter’s guidance would require sequential deliveries to grow by over 50%.

To put that in a few context, Tesla has built about 100,000 electric vehicles in total to date. The Organization also designs, develops, makes and sells electric vehicle powertrain components to other automotive makers. Its products include Model S as well as The Tesla Roadster.

Tesla’s output is far behind its competitors, but the company is aggressively investing in ramping up its production of vehicles.

“Certainly incremental improvements to the battery pack range are important, but the thing that is really is reducing the cost per kilowatt hour…the fundamental focus is the cost per unit of energy”.