Tesla is getting crushed - again

Advertisement

Elon Musk

Bill Pugliano / Getty

Tesla CEO Elon Musk.

Tesla shares are down 9%, to $160, as we head into the end of the trading session on Friday.

Advertisement

That's the lowest point the stock has hit in a year.

The electric-car maker reports fourth-quarter and full-year 2015 earnings next week.

Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

Ahead of that, several analysts have reduced their target prices on the stock, including Morgan Stanley's Adam Jonas, who dropped his price target from a bullish $450 to a still fairly bullish $333.

Tesla shares have been sliding since the beginning of the year, after closing out 2015 at $240, a plunge that might be chalked up to skepticism among investors that Tesla will be able to rapidly ramp up production and deliveries of its new Model X SUV.

Advertisement

Jonas also expressed doubt that Tesla's next vehicle, the Model 3 mass-market sedan - expected price: $35,000 - will make it to market on schedule in 2017. He thinks that it won't hit the streets until late 2018.

Concerned investors have precedent: Tesla delivered slightly more than 50,000 vehicles in 2015, after suggesting early in the year that it would get 55,000 into owners' garages and driveways.

So far, CEO Elon Musk and his team haven't offered any guidance on what to expect in 2016, but with the Model X coming on line, 75,000 deliveries shouldn't be a stretch.

That figure is something investors will be focused on with laser-like intensity next week.

TSLA Chart 2/5/16 2

Screenshot via Google FInance

Advertisement

NOW WATCH: Here's what it's like to drive a Tesla on the new Autopilot mode