Shares of Proterra Inc. (NASDAQ:PTRA – Get Rating) saw strong trading volume on Wednesday . 40,371 shares traded hands during mid-day trading, a decline of 96% from the previous session's volume of 1,005,005 shares.The stock last traded at $4.94 and had previously closed at $4.86.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PTRA. DA Davidson began coverage on Proterra in a report on Wednesday, June 1st. They set a "buy" rating and a $10.00 price target on the stock. Morgan Stanley cut their price target on Proterra from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Monday, July 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Proterra currently has a consensus rating of "Hold" and an average target price of $6.90.

Proterra Stock Up 3.1 %

The firm has a 50 day simple moving average of $5.85 and a 200 day simple moving average of $6.04. The company has a quick ratio of 6.64, a current ratio of 8.19 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On Proterra

Large investors have recently modified their holdings of the company. Ovata Capital Management Ltd purchased a new position in shares of Proterra during the 1st quarter valued at about $32,000. Nisa Investment Advisors LLC purchased a new position in shares of Proterra during the 2nd quarter valued at about $40,000. Exchange Traded Concepts LLC purchased a new position in shares of Proterra during the 1st quarter valued at about $65,000. Private Advisor Group LLC purchased a new position in Proterra in the 2nd quarter worth approximately $47,000. Finally, Manchester Capital Management LLC purchased a new position in Proterra in the 1st quarter worth approximately $77,000. 58.35% of the stock is owned by hedge funds and other institutional investors.

About Proterra

(Get Rating)

Proterra Inc provides commercial vehicles in the United States, the European Union, Canada, Australia, and Japan. It operates through Proterra Powered and Energy and Proterra Transit business units. The Proterra Powered and Energy business unit designs, develops, manufactures, sells, and integrates battery systems and electrification solutions into vehicles for commercial vehicle OEM customers serving delivery trucks, school buses, coach buses, construction and mining equipment, and other applications.

Recommended Stories

• Get a free copy of the StockNews.com research report on Proterra (PTRA)
• Mullen Automotive Is Ready To Get In Gear
• Cracker Barrel: A Tasty Treat Or Bad Apple?
• Defensive Stocks For A Volatile Market
• Will UPS Be Next to Deliver a Warning?
• SunPower Is Ready To Power Up Triple-Digit Earnings Gains

Receive News & Ratings for Proterra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proterra and related companies with MarketBeat.com's FREE daily email newsletter.