Proterra (NASDAQ:PTRA) PT Lowered to $6.00

Proterra (NASDAQ:PTRAGet Rating) had its price target reduced by Barclays from $8.00 to $6.00 in a research report released on Thursday, The Fly reports. Barclays currently has an equal weight rating on the stock.

Other analysts also recently issued reports about the stock. Bank of America downgraded shares of Proterra from a buy rating to an underperform rating and dropped their price objective for the stock from $12.25 to $5.00 in a report on Friday, May 13th. Citigroup cut 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. Morgan Stanley decreased their price objective on Proterra from $11.00 to $10.00 and set an equal weight rating on the stock in a report on Tuesday, April 5th. Finally, Zacks Investment Research raised Proterra from a sell rating to a hold rating in a research note on Wednesday, May 18th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $7.70.

Shares of NASDAQ PTRA opened at $5.60 on Thursday. The stock’s 50-day simple moving average is $6.67 and its two-hundred day simple moving average is $8.33. Proterra has a twelve month low of $4.43 and a twelve month high of $20.12. The firm has a market capitalization of $1.25 billion, a P/E ratio of -1.01 and a beta of -0.82. The company has a quick ratio of 7.93, a current ratio of 9.37 and a debt-to-equity ratio of 0.17.

Proterra (NASDAQ:PTRAGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.27). The company had revenue of $58.58 million during the quarter, compared to the consensus estimate of $72.06 million. Proterra had a negative return on equity of 17.39% and a negative net margin of 100.20%. As a group, research analysts anticipate that Proterra will post -0.68 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of PTRA. CWM LLC purchased a new position in Proterra in the 4th quarter worth approximately $30,000. Evoke Wealth LLC purchased a new position in shares of Proterra in the fourth quarter worth $30,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Proterra during the 4th quarter valued at $31,000. Ovata Capital Management Ltd purchased a new stake in Proterra during the 1st quarter valued at $32,000. Finally, Captrust Financial Advisors purchased a new stake in Proterra during the 3rd quarter valued at $46,000. Institutional investors own 54.79% of the company’s stock.

Proterra Company Profile (Get Rating)

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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