Proterra (NASDAQ:PTRA) Shares Gap Down to $5.67

Proterra Inc. (NASDAQ:PTRA – Get Rating)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $5.67, but opened at $5.54. Proterra shares last traded at $5.58, with a volume of 6,691 shares.

A number of equities analysts recently issued reports on the company. Barclays decreased their price objective on Proterra from $8.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, May 19th. Bank of America lowered Proterra from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $12.25 to $5.00 in a report on Friday, May 13th. Zacks Investment Research raised Proterra from a “sell” rating to a “hold” rating in a report on Wednesday, May 18th. Citigroup decreased their price objective on Proterra from $8.50 to $6.50 and set a “na” rating for the company in a report on Monday, May 16th. Finally, Morgan Stanley decreased their price objective on Proterra from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, April 5th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.70.

The business has a 50 day simple moving average of $6.61 and a 200-day simple moving average of $8.28. The company has a debt-to-equity ratio of 0.17, a quick ratio of 7.93 and a current ratio of 9.37. The stock has a market capitalization of $1.29 billion, a P/E ratio of -1.03 and a beta of -0.82.

Proterra (NASDAQ:PTRA – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.27). The firm had revenue of $58.58 million for the quarter, compared to the consensus estimate of $72.06 million. Proterra had a negative net margin of 100.20% and a negative return on equity of 17.39%. Equities research analysts forecast that Proterra Inc. will post -0.68 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Telemus Capital LLC boosted its stake in shares of Proterra by 215.9% during the 4th quarter. Telemus Capital LLC now owns 44,479 shares of the company’s stock worth $393,000 after acquiring an additional 30,399 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Proterra by 29.1% in the fourth quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,161,719 shares of the company’s stock valued at $27,918,000 after purchasing an additional 713,519 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Proterra in the fourth quarter valued at $2,029,000. Geode Capital Management LLC lifted its holdings in shares of Proterra by 1,088.0% in the third quarter. Geode Capital Management LLC now owns 1,585,279 shares of the company’s stock valued at $16,027,000 after purchasing an additional 1,451,839 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in shares of Proterra by 110.3% in the third quarter. Penserra Capital Management LLC now owns 19,658 shares of the company’s stock valued at $198,000 after purchasing an additional 10,311 shares in the last quarter. 54.79% of the stock is owned by institutional investors and hedge funds.

Proterra Company Profile (NASDAQ:PTRA)

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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