Proterra (NASDAQ:PTRA) had its price objective reduced by analysts at Citigroup from $15.00 to $10.00 in a note issued to investors on Monday, The Fly reports. Citigroup’s target price points to a potential upside of 32.10% from the stock’s previous close.
Other equities analysts have also recently issued reports about the stock. Barclays raised their target price on shares of Proterra from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, November 12th. Morgan Stanley initiated coverage on shares of Proterra in a research report on Friday, October 22nd. They set an “equal weight” rating for the company. Finally, Zacks Investment Research upgraded shares of Proterra from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a research report on Wednesday, January 12th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.75.
Shares of NASDAQ PTRA opened at $7.57 on Monday. The stock has a fifty day moving average price of $9.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.20 and a quick ratio of 9.06. Proterra has a 1 year low of $7.53 and a 1 year high of $27.88.
Proterra (NASDAQ:PTRA) last posted its earnings results on Wednesday, November 10th. The company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.25). The company had revenue of $61.94 million for the quarter. As a group, research analysts predict that Proterra will post -0.69 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. KPCB GGF Associates LLC lifted its holdings in shares of Proterra by 2.8% in the 3rd quarter. KPCB GGF Associates LLC now owns 15,563,577 shares of the company’s stock worth $157,348,000 after acquiring an additional 429,167 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Proterra by 560.0% in the 3rd quarter. Franklin Resources Inc. now owns 6,091,157 shares of the company’s stock worth $61,582,000 after acquiring an additional 5,168,217 shares during the last quarter. Winslow Capital Management LLC bought a new stake in shares of Proterra in the 2nd quarter worth about $61,870,000. BNP Paribas Asset Management Holding S.A. lifted its holdings in Proterra by 110.9% during the 3rd quarter. BNP Paribas Asset Management Holding S.A. now owns 2,448,200 shares of the company’s stock valued at $24,751,000 after buying an additional 1,287,601 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in Proterra during the 3rd quarter valued at about $24,490,000. Hedge funds and other institutional investors own 29.33% of the company’s stock.
Proterra Company Profile
Proterra Inc is a developer and producer of commercial electric vehicle technology with an integrated business model focused on providing end-to-end solutions that enable commercial vehicle electrification through three main business units: Proterra Powered, Proterra Energy, and Proterra Transit.