NEW YORK (TheStreet) -- Shares of Tesla Motors (TSLA) are down -0.89% to $283.50 in pre-market trade after CEO Elon Musk, while announcing Nevada as the winner of the electric automobile company's $5 billion battery gigafactory, said investors often "get carried away" with the electric car company's stock price, CNBC reports.
"I think our stock price is kind of high right now," Musk, responding to a question from CNBC at the news conference in Carson City. "If you care about the long term, Tesla, I think the stock is a good price. If you look at the short term, it is less clear."
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 robust revenue growth, solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and generally higher debt management risk."