Tesla investors are increasingly restless ahead of a critical earnings report on Tuesday, with the automaker's stock price plunging this year.

Tesla Inc. shares fell on renewed questions over Elon Musk’s role with the federal government and uncertainty over the company’s plans to introduce a lower-cost electric vehicle.

Wedbush Securities analyst Dan Ives said Elon Musk should step back from his controversial work at the Department of Government Efficiency and re-focus his attention on Tesla Inc., adding the electric-vehicle maker faces a “code red” moment as it prepares to report first-quarter earnings Tuesday.