Tesla stock was falling in early trading Tuesday after eking out a gain on Monday as Wall Street tries to catch up with investors. Shares of the electric vehicle maker were down 0.5% at $409.00 in premarket trading Tuesday while S&P 500 and Dow Jones Industrial Average futures were edging up 0.

This downgrade contrasts with recent upgrades by other analysts. On Monday, New Street Research analyst Pierre Ferragu upgraded Tesla to 'Buy' from 'Hold,' raising the price target to $460 from $240. Ferragu pointed to expected growth in Tesla's lower-cost models and advancements in AI-driven autonomous technology as key growth drivers.

Tesla stock has hit a rough patch in recent weeks, but top analysts still see big gains ahead for the EV maker's stock this year.

Tesla stock was edging up in premarket trading Wednesday having dropped in the previous session after the National Highway Traffic Safety Administration launched an investigation into a new feature on its vehicles.