Tesla had its all-time trading high in its sights but has slipped back

Since bottoming out at $US185 per share in March, Tesla stock recovered steadily to reach $US280 earlier this month.

Tesla’s all-time trading high of $US291 was reached in September 2014.

The stock had that figure in its crosshairs. But over the past week, the stock has fallen back a bit, bottoming at $US255.

Over the past week, the stock has recovered to around $US265 per share.

Several Wall Street analysts have lowered their their ratings on the stock in recent weeks.

Earlier this month, Bank of America Merrill Lynch upped its target price for Tesla from $US180 from $US65, but maintained its stance that stock was overvalued.

Last week, Deutsche Bank analyst Rod Lache published a note downgrading Tesla from “buy” to “hold.”
Deutsche Bank upped its target price t0 $US280 from $US245, but the Lache wrote that value of its Tesla future potential has already been factored into the current price.

“And we believe that TSLA could become a dominant player,” he wrote. “But at this point, Tesla’s shares appear to already reflect this opportunity.”

Tesla will report second-quarter earnings on July 29. Although the company recently announced that it sold around 11,500 cars in the quarter, beating expectations, all eyes will be on its overall financial performance as it heads into the second half of the year.

Tesla is scheduled to launch its Model X SUV in the next few months. In 2015, CEO Elon Musk has said that the automaker will sell 55,000 vehicles in total.

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