Tesla shares close lower on Wednesday, Model X awarded five-star rating by Europe’s NCAP

Tesla Inc’s (TSLA) Model X Sport-utility vehicle has received a five-star rating by the European New Car Assessment Programme (NCAP) in standard tests for Europe.

Tesla shares closed lower for the fifth time in the past ten trading sessions on NASDAQ on Wednesday. It has also been the steepest daily loss since November 26th. The stock went down 0.94% ($3.17) to $333.03, after touching an intraday low at $332.85 and an intraday high at $337.67.

Shares of Tesla Inc have inched up 0.07% so far in 2019 compared with a 31.07% gain for the benchmark index, Nasdaq 100 (NDX).

In 2018, Tesla’s stock went up 6.89%, thus, it outperformed the Nasdaq 100, which registered a 1.04% loss.

“The stand-out performer of this round is undoubtedly Tesla’s Model X, scoring 94 percent for Safety Assist, the same as the Model 3 scored early this year. This makes the two Teslas the best performers in this part of the assessment against Euro NCAP’s most recent protocols. The recently-updated Model X also achieved an impressive 98 percent for adult occupant protection, making it strong contender for Best in Class this year,” NCAP said.

The programme rates crash protection and rollover safety of new vehicles.

Analyst stock price forecast and recommendation

According to CNN Money, the 30 analysts, offering 12-month forecasts regarding Tesla Inc’s stock price, have a median target of $290.00, with a high estimate of $949.00 and a low estimate of $160.00. The median estimate represents a 12.92% downside compared to the closing price of $333.03 on December 4th.

The same media also reported that at least 11 out of 34 surveyed investment analysts had rated Tesla Inc’s stock as “Buy”, while 10 – as “Hold”. On the other hand, other 10 analysts had recommended selling the stock.