Tesla shares fell sharply on Wednesday, as analysts at Barclays expressed concern about the electric vehicle manufacturer's margins.

At around 11:15 a.m. (New York time), the share price was down 2.3%, but this did not prevent it from maintaining gains of over 62% over the last three months.

According to Barclays' teams, the publication of second-quarter results, scheduled for July 23, could well force investors to open their eyes to the difficulties that the Group is still experiencing with its fundamentals.

The research firm fears that the publication will partly penalize the favorable stock market momentum that the stock has enjoyed since May.

According to Barclays, the figures are likely to highlight the pressure currently being exerted on the company's margins, even though they may be starting to approach a bottom level.

For the second quarter, the analyst expects an automotive gross margin of 16%, below consensus, due to low sales prices for its models.

Barclays believes, however, that any feverishness in the share price that may follow this disappointment will prove short-lived, before the market turns its attention back to the promise of developments in autonomous driving and AI.

While raising its price target from $180 to $225, the professional renews its 'weight online' recommendation on the stock.

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