Tesla Inc.(Nasdaq:TSLA): Tesla's (TSLA) shares are on pace to have its worst month in 12-months - StockNews.com

Tesla Inc. shares are poised to end March with their worst monthly decline in a year on concerns the Silicon Valley car maker’s first-quarter deliveries will disappoint even already dialed-down Wall Street expectations.

Tesla TSLA, +0.41%  stock is down slightly more than 13% in March, its worst month since March 2018, when it fell 22%.

The stock fell more than 16% in the quarter, its worst since third-quarter 2018. In contrast, all three major stock indexes are on track to gain at least 10% quarterly.

The first-quarter delivery numbers are expected for next week, likely on Tuesday or Wednesday.

Related: Truck prices rise, and driver loyalty declines, survey finds

Analysts polled by FactSet expect the company to report deliveries of 76,000 vehicles in the quarter, including 54,600 Model 3 sedans.

Analysts at Deutsche Bank on Friday were the latest to cast doubt on Tesla’s first-quarter deliveries.

They said in a note they expect the car maker to report Model 3 deliveries of 52,400 sedans, down by 5,000 vehicles, to account for weaker-than-expected “sales in the U.S. and logistical delivery challenges in Europe.”

Deutsche Bank’s price target on Tesla went to $295, from $345. They kept their hold rating on the shares.

Read also: Weak Tesla deliveries already priced in, analyst says

Unlike several other auto makers, Tesla does not report monthly sales; rather, it reports quarterly production and delivery numbers a few days after the end of the quarter.

It reported fourth-quarter deliveries below expectations in early January, even as it said it delivered almost as many vehicles last year (a total of 245,240, including 145,846 Model 3 sedans) as it did in all of its prior years combined.

Tesla shares have gained 4% in the past 12 months, compared with a 7% advance for the S&P 500 index SPX, +0.53%  in the same period.

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Tesla Inc. shares were trading at $279.35 per share on Friday afternoon, up $0.73 (+0.26%). Year-to-date, TSLA has declined -16.06%, versus a 13.48% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of D (Sell), and is ranked #14 of 25 stocks in the Auto & Vehicle Manufacturers category.

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