Tesla has bad news if you're waiting for a Model 3

Analyst: Buy Tesla Inc (TSLA) Regardless Of Earnings Results

Tesla Inc (TSLA.O) on Wednesday pushed back its target for volume production on its new Model 3 sedan by about three months, saying it was hard to predict how long it would take to fix all production bottlenecks. But it can only issue new debt and equity for so long before investors will start to balk. The company now plans to produce 5,000 Model 3 sedans per week by the end of the first quarter in 2018 - a target it had initially planned to achieve in December.

Analysts have said Panasonic's massive Gigafactory bet makes the firm highly sensitive to Tesla's strategy. The trick is to make the process more automated, which will allow the company to produce more vehicles at a lower cost than more traditional automakers.

Tesla's shares have had a rollercoaster of a ride, now trading down 1.60% at $326.24, ahead of the company's earnings report on Wednesday.

With the addition of Model 3 as a compelling, high-performance and long-range electric vehicle that is also affordable, the Tesla fleet should grow even faster in the years ahead. The share price has moved backward from its 20 days moving average, trading at a distance of -4.04% and stays -5.51% away from its 50 days moving average. Tesla's other vehicles, the Model S and Model X, will be given less attention as the company shifts focus to getting the Model 3 up to speed.

The firm also delayed its production target for its new Model 3 vehicle.

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MetLife Inc. reported third-quarter adjusted profit and sales that beat expectations, announced a new $2 billion stock repurchase program and said it would divest its remaining Brighthouse Financial Inc. stake, but the stock still fell 1.7% in after-hours trade as it swung to a net loss.

Tesla ended Q3 with a cash balance of $3.5B.

Thousands of Model 3s were supposed to have been sold by now. Following the completion of the sale, the vice president now owns 1,736 shares of the company's stock, valued at $589,354.64.

Tesla's soaring stock has made the company the second-most valuable US automaker behind General Motors Co (GM.N), which had annual net profit of $9.4 billion in 2016. Tesla expects Model 3 non-GAAP gross margin to reach breakeven by end of Q4 as capacity utilization kicks in at higher volume.

Quarterly revenues were $2.98bn, 30% higher than the same period past year.

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