After a decent earnings report earlier this week, shares of Tesla Motors Inc (NASDAQ:TSLA) are struggling again today in late morning trading. The stock, which began the day in the green, up more than $6 within the first half hour of trading, has since dropped more than $9 from those intraday highs. The stock is now trading just $6.50 off of it’s 52-week low.
While the company has a defined roadmap for future vehicle launches, investors worry that it may take longer than initially thought for Tesla Motors Inc (NASDAQ:TSLA) to turn any sort of major profit within the EV space. While the Model X is somewhat behind schedule from an expectations standpoint, it’s the upcoming Model 3, which is expected to be priced below $35,000, that could take the company to the next level The question is whether or not the profit margins will be large enough to make any substantial dent in Tesla’s EPS over the next couple of years.
The stock is down close to 50% from its all time high seen in the midlle of last year. The stock is down 2.05% or $3.08 following the news, hitting $147.39 per share. Approximately 3.47M shares traded hands. TSLA shares have declined 41.66% since July 9, 2015 and are currently downtrending. It has underperformed the S&P500 by 32.79%.
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 96.52% above today’s ($147.39) 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 is positive, 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 buys, and 5 insider sales for a total of $12.70 million in net activity. Straubel Jeffrey B sold 10,000 shares worth $2.18 million. Ehrenpreis Ira Matthew sold 16,698 shares worth $4.26M. Ahuja Deepak sold 5,000 shares worth $1.29 million. Guillen Jerome M sold 1,500 shares worth $373,291. The insider Reichow Gregory sold 10,000 shares worth $2.40M.
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 $20.21 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.