Tesla shares tumble on Moody's downgrade and another fatal crash

By exploiting the then-strong high-yield bond market, Tesla was able to net a borrowing cost more consistent with top-tier junk credits. Sure, the so-called affordable EV from a premium carmaker may have been found with the worst build quality in the entire automotive scene but this can be forgiven by Tesla's worshippers as the priority is for the Model 3 to sell well.

Should the investigation find the Autopilot to have been activated, it would not be the first time Tesla's technology is involved in a deadly crash.

Tesla in September 2016 unveiled improvements to Autopilot, adding new limits on hands-off driving. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Tesla by 77.1% during the fourth quarter. On Thursday, November 2 the stock rating was maintained by RBC Capital Markets with "Hold". The Thrivent Financial For Lutherans holds 139,846 shares with $11.81 million value, up from 92,385 last quarter.

TSLA, trading down 9% on Wednesday morning at $254.06, has fallen about 35% from its all-time high reached previous year and declined 18.5% over the the past three months. (NASDAQ:TSLA). Capital World Investors owns 3.03M shares.

Several equities analysts have recently weighed in on TSLA shares. Vetr upgraded shares of Tesla from a "sell" rating to a "hold" rating and set a $336.07 price objective for the company in a research report on Monday, February 5th. Scharf Investments Llc bought 6,509 shares as the company's stock 0.00%. SELL rating has been given by 4 analyst (s) and 5 analyst (s) given BUY rating to the stock. Wooed by Musk's personal appeals, bond investors pretty much ignored the carmaker's prolific cash burn and repeated failures to meet production targets and lent it $1.8 billion at record-low interest rates. While talking about Performance of the Stock, Tesla Motors, Inc. now has a Weekly performance of -10.1%, monthly performance percentage is -21.89 percent, Quarterly performance is -14.15 percent, 6 months performance shows a percent value of -19.08% and Yearly Performance is 3.32 percent. If the $247.18 price target is reached, the company will be worth $1.29B less. The company's distance from 52-week high price is -28.34% and the current price is 7.48% away from 52-week low price. The company has market cap of $1.30 billion. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.86 and a quick ratio of 0.56.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share for the quarter, topping the Zacks' consensus estimate of ($3.12) by $0.08. While, the analyst predicted that the company could provide an EPS of $-3.12/share. They are down 19.79% so far this year.

Tesla Inc (NASDAQ:TSLA) is the latest Wall Street darling to be ravaged by bears due to an onslaught of negative headlines. A total of 13,872,029 shares exchanged hands during the intra-day trade contrast with its average trading volume of 5.95M shares, while its relative volume stands at 2.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. While the Short-Term Technical Indicators for the stock on 7-Day Average Directional Indicator shows "Sell" signal.

The rating agency lowered Tesla's corporate rating one notch to B3, citing a "significant shortfall" in Model 3 production, Reuters says.

  • Wendy Palmer