Shares of Tesla Motors Inc (NASDAQ:TSLA) are down over 4% this morning in pre-market trading, despite the fact that the company reached their November 2015 projection numbers for vehicle deliveries — albeit the low end.
Back in November, Elon Musk’s company projected that they would ship somewhere between 17,000 and 19,000 vehicles during the fourth quarter of 2015. On Sunday, Tesla Motors Inc (NASDAQ:TSLA) announced that it had delivered 17,400, reaching projections but not reaching the upper end of them. This brought the total number of vehicles delivered in 2015 to 50,800.
Musk also informed investors that the company delivered approximately 75% more of their Model S vehicles than they did in the fourth quarter of 2014. Investors, however, do not seem to be enthused after these numbers were released, as the stock is trading down significantly in pre-market hours — although this partially has to do with the Chinese stock market’s crash late last night.
The stock increased 0.81% or $1.92 during the last trading session, hitting $240.01. About 32,089 shares traded hands. TSLA has declined 4.30% since May 29, 2015 and is downtrending. It has underperformed the S&P500 by 2.18%.
From a total of 16 analysts covering Tesla Motors Inc (NASDAQ:TSLA) stock, 8 rate it a “Buy”, 3 a “Sell”, and 5 a “Hold”. This means that 50% of the ratings are positive. The highest target price is $465 while the lowest target price is $180. The mean of all analyst targets is $289.65 which is 20.68% above today’s ($240.01) stock price. Tesla Motors Inc was the topic of 30 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. JMP Securities initiated shares on December 14 with a “Market Perform” rating. Barclays Capital downgraded shares to a”Underweight” rating and a $180 target share price in their report from an October 9. Evercore maintained TSLA stock in a recent report from November 4 with a “Buy” rating. Robert W. Baird downgraded the rating on October 7. Robert W. Baird has a “Neutral” rating and a $282 price target on shares. Finally, S&P Research upgraded the stock to a “Hold” rating in a report they issued on an October 13.
The institutional sentiment increased to 1.29 in Q2 2015. It’s up 0.01, from 1.28 in 2015Q2. The ratio improved, as 84 funds sold all their Tesla Motors Inc shares they owned while 122 reduced their positions. 66 funds bought stakes while 199 increased their total positions. Institutions now own 76.22 million shares which is 1.63% less than the previous share count of 77.48 million in 2015Q2.
J&P(China)Capital Management Co.Ltd holds 50.38% of its total portfolio in Tesla Motors Inc, equating to 975,058 shares. Andor Capital Management L.L.C. owns 1.00 million shares representing 39.05% of their total US portfolio. Moreover, Zevenbergen Capital Investments Llc has 6.58% of their total portfolio invested in the company, equating to 618,255 shares. The New York-based Long Oar Global Investors Llc has a total of 5.74% of their portfolio invested in the stock. Hhr Asset Management Llc, a New Jersey-based fund reported 488,021 shares owned.
Since April 16, 2015, the stock had 0 insider buys, and 6 sales for a total of $15.35 million in net activity. Straubel Jeffrey B sold 10,000 shares worth $2.18M. Ehrenpreis Ira Matthew sold 16,698 shares worth $4.26 million. Ahuja Deepak sold 5,000 shares worth $1.29M. Guillen Jerome M sold 1,500 shares worth $373,291. The insider Reichow Gregory sold 10,000 shares worth $2.40 million.
Tesla Motors, Inc. is a United States company, which designs, develops, makes and sells electric vehicles, electric vehicle powertrain components and stationary energy storage systems. The company has a market cap of $31.43 billion. The Firm sells and produces a vehicle under the name Model S, which is a fully electric, four-door, five-adult passenger sedan. It currently has negative earnings. In addition to developing its own vehicles, it develops, sells, and services full electric powertrain systems and components to other automobile manufacturers.