The share prices for Tesla have experienced a major dip even in the latest trading session. The electric vehicle manufacturing giant has been facing major collapses in its share prices throughout 2022.
An Over 4% Share Price Dip
However, recent months have seen the worst fall the company has faced throughout the running year. The latest (Wednesday) trading session was filled with anger for the shareholders as well.
They were extremely unhappy to see that the share prices for Tesla had recorded another major dip. According to the latest market data, the share prices for Tesla have recorded a more than 4% dip.
The premarket trading session saw a major pullback in the share prices for Tesla. Following the dip, the trading price for Tesla shares dipped to $104.
This is a huge fall that the Tesla share prices have witnessed after a very long time. It was back in August 2020 when the share prices for Tesla were at such a lower level.
After falling to $104, Tesla shares have hit the lowest level since August 2020.
Baird Lowered Tesla’s Share Price Target
It was on Tuesday when the analysts at Baird Equity Research circulated an investor note where they highlighted Tesla’s share prices.
The analysts revealed that they had lowered the share price target for Tesla. This caused a major problem for the S&P 500 index as Tesla is a member of the top five companies by valuation.
This has put the overall performance of the entire S&P 500 index at great risk. This could leave many investors unhappy who are not even investing in Tesla.
However, they may raise their concern over the performance of Tesla in the recent trading sessions. There are chances that Tesla may have to get off the grid in order to recover and bring back its lost trust.
Investor Note by Ben Kallo
One of the senior research analysts at Baird Equity Research issued the investor note on Tuesday.
Kallo commented on the recent statements made by the owner and CEO of Tesla, Elon Musk, about the company’s outlook.
He stated that Musk has stated that they are seeing a lesser demand for their vehicles ahead. They have also run their statistics and have established the same about the company’s performance in recent months.
Given the amount of information they have gathered, they have decided to remain conservative about the performance of the company in near future.
Thus, they have decided to lower the share price target for Tesla and will review its performance in the future to see if any changes are to be made or not.
Baird Equity Research did not Lower Stock Rating
Kallo announced that considering the recent performance, demand, and supply-related issues, they have lowered its price target.
Initially, the analysts at Baird Equity Research had set the stock price target to $316. In light of the recent events and developments, the company has lowered the price target to $252.
The firm has reportedly lowered the stock price target of Tesla by more than 20%. However, they have confirmed that they have made no change to the stock status of the EV maker.
The stock status of the EV maker has remained at the “outperform” rating.
Tesla is facing a Constant Downtrend
Baird Equity Research is not the first company that has lowered the stock price target of Tesla at its end.
Another company “Wedbush”, reportedly lowered the stock price target of Tesla on its end. It was a week back when Wedbush lowered the stock price target for Tesla to $175.
Prior to the downgrade, the stock price target set by Wedbush analysts was $250. However, they decided to cut the price target by 30%, bringing it to such a low figure.