Proterra Inc. (NASDAQ:PTRA) Receives $7.07 Average PT from Brokerages

Shares of Proterra Inc. (NASDAQ:PTRA – Get Rating) have earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $6.36.

A number of research firms have weighed in on PTRA. DA Davidson cut their target price on Proterra from $10.00 to $5.00 in a research report on Friday. BTIG Research dropped their price target on Proterra from $7.00 to $6.00 in a report on Thursday.

Proterra Stock Performance

Shares of NASDAQ PTRA opened at $1.27 on Thursday. The company has a current ratio of 6.32, a quick ratio of 4.87 and a debt-to-equity ratio of 0.20. The stock has a 50 day simple moving average of $4.25 and a 200-day simple moving average of $4.92. The company has a market cap of $286.39 million, a PE ratio of -0.72 and a beta of 1.18. Proterra has a 12-month low of $1.07 and a 12-month high of $8.02.

Proterra (NASDAQ:PTRA – Get Rating) last issued its quarterly earnings data on Wednesday, March 15th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.25). The business had revenue of $80.00 million for the quarter, compared to analyst estimates of $86.88 million. Proterra had a negative return on equity of 38.98% and a negative net margin of 76.92%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. On average, equities research analysts forecast that Proterra will post -0.85 EPS for the current year.

Insider Transactions at Proterra

In related news, CFO Karina F. Padilla sold 9,574 shares of the company’s stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $4.87, for a total value of $46,625.38. Following the completion of the sale, the chief financial officer now directly owns 220,773 shares in the company, valued at $1,075,164.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Gareth T. Joyce sold 22,534 shares of the business’s stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $5.01, for a total value of $112,895.34. Following the sale, the chief executive officer now owns 355,272 shares of the company’s stock, valued at approximately $1,779,912.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Karina F. Padilla sold 9,574 shares of the company’s stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $4.87, for a total transaction of $46,625.38. Following the completion of the sale, the chief financial officer now directly owns 220,773 shares in the company, valued at approximately $1,075,164.51. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Proterra

Institutional investors have recently modified their holdings of the stock. PFS Investments Inc. boosted its position in Proterra by 27.8% during the third quarter. PFS Investments Inc. now owns 21,176 shares of the company’s stock valued at $105,000 after purchasing an additional 4,601 shares during the last quarter. Sepio Capital LP acquired a new stake in Proterra during the third quarter worth approximately $2,779,000. Wagner Wealth Management LLC increased its stake in Proterra by 16.0% during the 2nd quarter. Wagner Wealth Management LLC now owns 117,351 shares of the company’s stock worth $545,000 after acquiring an additional 16,170 shares during the period. Franklin Resources Inc. raised its holdings in Proterra by 2.3% in the 2nd quarter. Franklin Resources Inc. now owns 27,250,815 shares of the company’s stock valued at $126,443,000 after acquiring an additional 614,858 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Proterra by 35.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 302,950 shares of the company’s stock valued at $1,406,000 after acquiring an additional 78,825 shares during the period. 60.04% of the stock is owned by institutional investors.

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.