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.

Tesla stock slipped on Tuesday after Bank of America said it sees shares fairly priced, with some risk to the downside.

Key Takeaways NHTSA opened an investigation into Tesla's Smart Summon and Actually Smart Summon features, which allow users to move their vehicles remotely using an app.The regulatory agency has received complaints that Tesla vehicles failed to detect obstacles or parked vehicles,

BofA Securities analyst John Murphy downgraded shares of electric-vehicle maker Tesla to Hold, but his new target price implies about 17% upside.