Tesla Inc (TSLA) Slashes Production of Two Cars, Misses Q3 Estimates

Tesla charging stations

Tesla charging stations

Zacks Investment Research cut shares of Tesla from a hold rating to a sell rating in a research note on Wednesday, October 18th. Reports that many of those auto were returned to fix battery problems were not disputed by Tesla. Vetr lowered Tesla from a sell rating to a strong sell rating and set a $292.39 price objective for the company.in a research note on Monday, October 23rd. Great West Life Assurance Co.

The company also reported its biggest quarterly loss ever, sending shares down almost 5 percent after hours as the loss was bigger than analysts had expected. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer's stock worth $145,000 after buying an additional 9 shares during the period.

Tesla said the main constraint was its battery module assembly line at its Nevada Gigafactory, where the company had to redesign part of the production process.

Nomura restated their buy rating on shares of Tesla Inc.

The stock fell 4.3% in after-hours trading. WINTON GROUP Ltd bought a new stake in shares of Tesla in the 2nd quarter worth about $681,000. Institutional investors and hedge funds own 56.45% of the company's stock.

Tesla's first mass market vehicle has been beset with manufacturing issues - and there' s no end in sight. (TSLA) opened at 331.53 on Wednesday. Over the last five days, shares have faced -1.72% losses and now is up 4.36% since hitting its 200-day moving average of $341.49.

Driver Killed After 12-Year-Old Leaps From Virginia Interstate Overpass
Harris' family said her boyfriend, who was in the passenger's seat, took control of the auto and steered it off of the interstate. The state police confirmed in a statement that the "front-seat passenger" was "was not injured" as a result of the collision.

Tesla Inc (NASDAQ:TSLA), probably the most-loved/hated stock on the market, released third-quarter earnings today after the bell.

Tesla reported that cash and cash equivalents rose to $3.53 billion on September 30 from $3.04 billion at the end of the second quarter, but Tesla in August raised $1.8 billion by selling debt. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%.

Model 3 production delays mean postponed sales could exacerbate the company's cash burn, which Tesla estimated at $1 billion in the upcoming quarter. The company's revenue for the quarter was up 119.6% compared to the same quarter a year ago. The firm's revenue for the quarter was up 119.6% on a year-over-year basis.

Analysts expect the stock market glamor stock to post a quarterly loss of US$2.28 a share on revenue of US$2.9bn.

TRADEMARK VIOLATION WARNING: This piece was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of United States & worldwide copyright and trademark laws.

A number of other equities research analysts have also weighed in on TSLA. Tesla said there are no issues with its supply chain. At the time, Tesla denied the report. The company has more than 400,000 advanced reservations, but has been struggling to boost production after falling into what CEO Elon Musk has dubbed "production hell". Finally, Goldman Sachs Group, Inc. The brokerage now has a $500.00 target price on the electric vehicle producer's stock. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. Also, the current price highlights a discount of 20.65% to analysts' high consensus price target. The stock sank -2.93% last month and is up 55.15 this year. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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