The opposing ratings indicate uncertainty regarding the company's future following the launch of its new flagship sedan, the Tesla Model S. The Palo Alto, Calif.-based company has two more models in the works, and the Model X crossover is expected to launch in late 2013. Tesla is relying on the Model S and eventually the Model X to move it to profitability. Tesla is expected to report earnings per share for the entire year of $-2.44, according to reports by JAGS and Daily Political.
Maxim Group also affirmed its Buy rating for Tesla on Wednesday, according to Daily Political.
Following a 15 percent rise in the stock over the prior four days, TSLA fell Tuesday due, we believe, to reports that the delivery dates for a few Model S orders were delayed six weeks, Maxim Group said.
However, new reservations for the car have risen sharply following positive reviews of the new car in June.
Shares of Tesla Motors Incorporated (Nasdaq: TSLA) shares rose 28 cents to $33.63 in afternoon trading.