Proterra Inc. (NASDAQ:PTRA – Get Rating)'s share price dropped 3% during trading on Friday . The stock traded as low as $5.17 and last traded at $5.18. Approximately 8,805 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 995,000 shares. The stock had previously closed at $5.34.
Analyst Upgrades and Downgrades
PTRA has been the topic of several recent analyst reports. Morgan Stanley decreased their price target on Proterra from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Monday, July 18th. Truist Financial initiated coverage on Proterra in a research note on Wednesday. They issued a "buy" rating and a $9.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $7.25.
Get Proterra alerts:Proterra Trading Down 6.7 %
The company has a 50 day moving average of $5.86 and a 200-day moving average of $6.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 6.64 and a current ratio of 8.19. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -3.00 and a beta of 0.20.
Proterra (NASDAQ:PTRA – Get Rating) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.24). Proterra had a negative return on equity of 16.46% and a negative net margin of 38.22%. The firm had revenue of $74.56 million for the quarter, compared to analyst estimates of $73.69 million. On average, research analysts anticipate that Proterra Inc. will post -0.73 earnings per share for the current year.Institutional Investors Weigh In On Proterra
A number of hedge funds have recently bought and sold shares of the stock. PFS Investments Inc. raised its position in Proterra by 18.0% in the 2nd quarter. PFS Investments Inc. now owns 16,575 shares of the company's stock valued at $77,000 after purchasing an additional 2,528 shares in the last quarter. Cohen Capital Management Inc. raised its position in Proterra by 1.0% in the 1st quarter. Cohen Capital Management Inc. now owns 293,242 shares of the company's stock valued at $2,205,000 after purchasing an additional 2,886 shares in the last quarter. Teacher Retirement System of Texas raised its position in Proterra by 10.6% in the 1st quarter. Teacher Retirement System of Texas now owns 36,111 shares of the company's stock valued at $272,000 after purchasing an additional 3,473 shares in the last quarter. Ovata Capital Management Ltd acquired a new stake in Proterra in the 1st quarter valued at about $32,000. Finally, California State Teachers Retirement System raised its position in Proterra by 3.3% in the 1st quarter. California State Teachers Retirement System now owns 148,476 shares of the company's stock valued at $1,117,000 after purchasing an additional 4,762 shares in the last quarter. Institutional investors and hedge funds own 58.35% of the company's stock.
About Proterra
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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.
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