Tesla Stock Punished by High Costs and Delayed Production

02 November, 2017, 01:11 | Author: Carmen Reese
  • The Polestar 1´s upper body is made of carbon fibre for stiffness torsional rigidity and weight savings     Volvo

"Investors are anticipating a weak 3Q report".

A number of other analysts have also recently weighed in on the stock.

Electric carmaker Tesla has notched up its biggest quarterly loss to date, sending its shares down more than 5% in after-hours trading.

"Don't set your watch by this", Musk said, but noted that "there's a rough target of starting production in the next three years, and it would be serving the China market and some of the surrounding region".

Shares of Tesla Inc. (NASDAQ:TSLA) in a research note published on Tuesday morning. (NASDAQ:TSLA) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. Ten equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock.

The company's consensus rating on Reuter's scale slipped from 1.95 to 1.89 during a month. Can raised its stake in Tesla by 2.7% in the 2nd quarter. 732,944 shares of the stock were exchanged. It's now trading about -14.91% below its 52-week high. The firm has a 50 day moving average price of $350.92 and a 200-day moving average price of $341.49.

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Tesla shares fell Wednesday after the company posted a wider-than-expected loss as it spent heavily to ramp up production of its Model 3, its first mass market electric sedan. So far, the company has reported that only 260 have been produced.

Revenue was a stronger point for the automotive company, coming in at $2.98 billion, ahead of the $2.39 billion that analysts called for. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%.

Panasonic sees batteries as central to its plan to almost double automotive business revenue to 2.5 trillion yen by the year through March 2022.

WARNING: This article was published by Week Herald and is the property of of Week Herald.

COPYRIGHT VIOLATION WARNING: "Tesla Inc". The original version of this article can be read at https://weekherald.com/2017/11/01/tesla-inc-tsla-pt-lowered-to-195-00-at-j-p-morgan-chase-co.html. Its last month's stock price volatility remained 2.94% which for the week stands at 2.63%. Following the completion of the sale, the director now directly owns 158,584 shares in the company, valued at approximately $56,329,036.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The shares were sold at an average price of $339.49, for a total transaction of $589,354.64.

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