NEW YORK (TheStreet) -- Tesla (TSLA) - Get Report stock is advancing by 2.01% to $213.29 in early afternoon trading on Monday, after the company announced its 2015 third quarter sales in China were the highest so far this year. 

The electric vehicle manufacturer sold 1,345 units in China for the most recent quarter, up from 797 units in the 2015 first quarter and 883 units in the 2015 second quarter, Bloomberg reports. 

Sales in China totaled 11% of Tesla's global deliveries for the quarter, Bloomberg adds.

Additionally, sales of the company's Model X vehicle should begin in China during the first half of 2016, according to Bloomberg.

Even so, shares of Tesla have not rebounded from the lows they hit last week after Consumer Reports dropped its recommendation of the Tesla Model S, Barron's notes. After Consumer Reports pulled its recommendation on Tuesday, the stock closed down 6.6% to $213.03.

Separately, TheStreet Ratings team rates TESLA MOTORS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

We rate TESLA MOTORS INC (TSLA) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its robust revenue growth -- not just in the most recent periods but in previous quarters as well. At the same time, however, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity.

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth greatly exceeded the industry average of 7.5%. Since the same quarter one year prior, revenues rose by 24.1%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • TESLA MOTORS INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past year. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, TESLA MOTORS INC reported poor results of -$2.36 versus -$0.71 in the prior year. This year, the market expects an improvement in earnings (-$0.82 versus -$2.36).
  • The share price of TESLA MOTORS INC has not done very well: it is down 8.39% and has underperformed the S&P 500, in part reflecting the company's sharply declining earnings per share when compared to the year-earlier quarter. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
  • The gross profit margin for TESLA MOTORS INC is currently lower than what is desirable, coming in at 31.91%. It has decreased from the same quarter the previous year. Along with this, the net profit margin of -19.29% is significantly below that of the industry average.
  • Net operating cash flow has significantly decreased to -$159.52 million or 4356.99% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
  • You can view the full analysis from the report here: TSLA