NEW YORK (TheStreet) -- Tesla Motors (TSLA) shares continue to fall on Thursday after reporting a precipitous drop in Norwegian sales in June.
The electric vehicle maker recorded a steep decline in sales in Norway, selling 536 Model S vehicles in June, a fall from the 1,493 it sold in March.
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Shares fell 4% yesterday after the news was released, triggering a pullback from the 18% gains the California-based company experienced over the past two weeks.
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. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and poor profit margins."