Tesla Inc TSLA shares are trading lower by 5.61% to $107.26 Thursday morning after data from the China Passenger Car Association showed the company's December China-made EV deliveries fell 44% from November. Additionally, Mizuho analyst Vijay Rakesh maintained Tesla with a Buy and lowered the price target from $285 to $250.
Growth stocks, including Tesla, are lower following better-than-expected unemployment figures, which have added to concerns over a right labor market. Stocks across sectors are also lower after hawkish comments from Kansas City Fed President George.
Per Reuters, Tesla delivered some 55,796 China-made electric vehicles in December, According to China Passenger Car Association. This delivery figure represents a 44% decrease vs. November.
Tesla shares have also been under heavy selling pressure after the EV maker recently reported fourth-quarter deliveries that came in below market estimates. The company delivered more than 405,278 cars in the fourth quarter, and produced over 439,000. This represented a 31.33% year-over-year rise and a 17.87% sequential growth.
The consensus estimate for fourth-quarter deliveries compiled by Tesla’s investor relations was 417,957 units...Read More
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According to data from Benzinga Pro, TSLA has a 52-week high of $390.11 and a 52-week low of $104.64.
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