J.W. Cole Advisors Inc. Buys New Position in Proterra Inc. (NASDAQ:PTRA)

J.W. Cole Advisors Inc. acquired a new position in Proterra Inc. (NASDAQ:PTRAGet Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,400 shares of the company’s stock, valued at approximately $86,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Proterra in the fourth quarter worth $31,000. Ovata Capital Management Ltd purchased a new position in Proterra in the first quarter worth $32,000. Exchange Traded Concepts LLC purchased a new position in Proterra in the first quarter worth $65,000. Sciencast Management LP purchased a new position in Proterra in the first quarter worth $75,000. Finally, Evanson Asset Management LLC purchased a new position in Proterra in the first quarter worth $77,000. Hedge funds and other institutional investors own 58.35% of the company’s stock.

Proterra Stock Performance

Shares of PTRA opened at $5.02 on Friday. The firm has a market cap of $1.13 billion, a PE ratio of -3.02 and a beta of 0.20. The stock’s fifty day moving average price is $5.84 and its two-hundred day moving average price is $6.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 8.19 and a quick ratio of 6.64. Proterra Inc. has a 1 year low of $4.26 and a 1 year high of $13.22.

Wall Street Analyst Weigh In

PTRA has been the topic of several research analyst reports. DA Davidson initiated coverage on Proterra in a research report on Wednesday, June 1st. They issued a “buy” rating and a $10.00 price objective on the stock. Morgan Stanley lowered their target price 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.90.

Proterra Company Profile

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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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Institutional Ownership by Quarter for Proterra (NASDAQ:PTRA)

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