Proterra (NASDAQ:PTRA) Coverage Initiated at DA Davidson

Investment analysts at DA Davidson started coverage on shares of Proterra (NASDAQ:PTRAGet Rating) in a report issued on Wednesday, The Fly reports. The brokerage set a “buy” rating on the stock.

A number of other equities analysts have also weighed in on PTRA. Morgan Stanley decreased their price objective on shares of Proterra from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, April 5th. Citigroup decreased their target price on shares of Proterra from $8.50 to $6.50 and set a “na” rating for the company in a research note on Monday, May 16th. Zacks Investment Research upgraded shares of Proterra from a “sell” rating to a “hold” rating in a research note on Wednesday, May 18th. Barclays decreased their target price on shares of Proterra from $8.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, May 19th. Finally, Bank of America lowered shares of Proterra from a “buy” rating to an “underperform” rating and decreased their target price for the company from $12.25 to $5.00 in a research note on Friday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Proterra presently has an average rating of “Hold” and an average price target of $7.70.

NASDAQ PTRA traded down $0.09 during mid-day trading on Wednesday, reaching $6.36. The stock had a trading volume of 1,697,734 shares, compared to its average volume of 2,482,283. Proterra has a 1 year low of $4.43 and a 1 year high of $20.12. The stock has a market cap of $1.42 billion, a PE ratio of -1.15 and a beta of -0.82. The company has a fifty day moving average price of $6.49 and a 200 day moving average price of $8.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 9.37 and a quick ratio of 7.93.

Proterra (NASDAQ:PTRAGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.27). Proterra had a negative return on equity of 17.39% and a negative net margin of 100.20%. The firm had revenue of $58.58 million during the quarter, compared to analysts’ expectations of $72.06 million. As a group, equities research analysts expect that Proterra will post -0.68 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. CWM LLC bought a new position in Proterra in the 4th quarter worth $30,000. Evoke Wealth LLC bought a new position in Proterra in the 4th quarter worth $30,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in Proterra in the 4th quarter worth $31,000. Wells Fargo & Company MN bought a new position in Proterra in the 2nd quarter worth $65,000. Finally, Ovata Capital Management Ltd bought a new position in Proterra in the 1st quarter worth $32,000. 54.79% of the stock is currently owned by institutional investors.

Proterra Company Profile (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.

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