Proterra (NASDAQ:PTRA – Free Report) had its price objective reduced by equities research analysts at Citigroup from $1.80 to $1.40 in a research report issued on Friday, The Fly reports. Citigroup’s price target would indicate a potential upside of 16.67% from the stock’s previous close.
Several other research firms also recently commented on PTRA. DA Davidson decreased their price target on shares of Proterra from $10.00 to $5.00 in a research note on Friday, March 17th. Truist Financial decreased their price target on shares of Proterra from $9.00 to $4.00 in a research note on Wednesday, May 10th. Finally, BTIG Research reduced their price objective on shares of Proterra from $7.00 to $6.00 in a research note on Thursday, March 16th.
Proterra Price Performance
PTRA stock opened at $1.20 on Friday. The company has a fifty day moving average price of $1.23 and a two-hundred day moving average price of $2.70. Proterra has a one year low of $0.91 and a one year high of $7.71. The stock has a market cap of $272.28 million, a price-to-earnings ratio of -0.50 and a beta of 0.89.
Proterra (NASDAQ:PTRA – Free Report) last released its quarterly earnings results on Tuesday, May 9th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Proterra had a negative net margin of 130.74% and a negative return on equity of 52.23%. The business had revenue of $79.53 million during the quarter. Research analysts anticipate that Proterra will post -0.87 EPS for the current fiscal year.
Institutional Trading of Proterra
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTRA. UBS Group AG grew its position in shares of Proterra by 54.0% during the 4th quarter. UBS Group AG now owns 8,048 shares of the company’s stock worth $30,000 after buying an additional 2,823 shares during the period. Commonwealth Equity Services LLC acquired a new stake in Proterra in the 3rd quarter valued at $51,000. FourThought Financial LLC grew its position in Proterra by 21.1% in the 3rd quarter. FourThought Financial LLC now owns 12,408 shares of the company’s stock valued at $62,000 after purchasing an additional 2,164 shares during the period. FourThought Financial Partners LLC acquired a new stake in Proterra in the 4th quarter valued at $47,000. Finally, Prelude Capital Management LLC bought a new position in Proterra during the 1st quarter valued at $94,000. Institutional investors and hedge funds own 58.00% of the company’s stock.
About Proterra
Proterra Inc provides commercial vehicles in the United States, the European Union, Canada, the United Kingdom, Australia, Japan, and Türkiye. The company’s Proterra Powered & Energy business unit offers battery systems and electrification solutions for commercial vehicle original equipment manufacturer (OEM) customers serving delivery trucks, school buses, coach buses, construction and mining equipment, and other applications; and turnkey fleet-scale, high-power charging solutions and software services, ranging from fleet and energy management software-as-a-service to fleet planning, hardware, infrastructure, installation, utility engagement, and charging optimization.
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