Proterra (NASDAQ:PTRA – Get Rating) had its price objective dropped by Morgan Stanley from $12.00 to $11.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 59.65% from the stock’s previous close.
PTRA has been the subject of a number of other reports. Zacks Investment Research downgraded Proterra from a “hold” rating to a “sell” rating in a research note on Saturday, March 5th. Citigroup cut their price objective on Proterra from $15.00 to $10.00 in a research note on Monday, January 24th. Finally, Barclays cut their price objective on Proterra from $11.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, March 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.00.
Proterra stock opened at $6.89 on Wednesday. The company’s 50-day moving average price is $8.26. Proterra has a 52-week low of $6.52 and a 52-week high of $20.12. The company has a quick ratio of 9.06, a current ratio of 10.20 and a debt-to-equity ratio of 0.14.
Proterra (NASDAQ:PTRA – Get Rating) last released its quarterly earnings results on Tuesday, March 1st. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.27). The business had revenue of $68.41 million during the quarter. On average, sell-side analysts expect that Proterra will post -0.6 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Proterra by 25.2% during the 4th quarter. BlackRock Inc. now owns 3,031,671 shares of the company’s stock valued at $26,769,000 after acquiring an additional 609,370 shares during the period. Vident Investment Advisory LLC lifted its holdings in Proterra by 39.2% in the 4th quarter. Vident Investment Advisory LLC now owns 29,167 shares of the company’s stock worth $258,000 after purchasing an additional 8,209 shares in the last quarter. Tao Pro LLC purchased a new position in Proterra in the 4th quarter worth approximately $101,704,000. Goldman Sachs Group Inc. lifted its holdings in Proterra by 994.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 118,278 shares of the company’s stock worth $1,044,000 after purchasing an additional 107,473 shares in the last quarter. Finally, Wafra Inc. purchased a new position in Proterra in the 4th quarter worth approximately $7,863,000. Institutional investors own 38.38% 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.