Proterra (NASDAQ:PTRA) Shares Up 5.2%

Proterra Inc. (NASDAQ:PTRA)’s share price shot up 5.2% on Thursday . The company traded as high as $10.80 and last traded at $10.73. 26,768 shares traded hands during trading, a decline of 99% from the average session volume of 2,649,282 shares. The stock had previously closed at $10.20.

A number of research firms have recently weighed in on PTRA. Barclays increased their target price on shares of Proterra from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Friday, November 12th. Morgan Stanley started coverage on shares of Proterra in a 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 report on Wednesday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Proterra has an average rating of “Hold” and an average price target of $13.25.

The company has a quick ratio of 9.06, a current ratio of 10.20 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $10.20 and its 200 day simple moving average is $11.14.

Proterra (NASDAQ:PTRA) last announced its quarterly 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, equities analysts anticipate that Proterra Inc. will post -0.69 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. KPCB GGF Associates LLC increased its position in shares of Proterra by 2.8% during the third quarter. KPCB GGF Associates LLC now owns 15,563,577 shares of the company’s stock valued at $157,348,000 after acquiring an additional 429,167 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Proterra by 560.0% during the third quarter. Franklin Resources Inc. now owns 6,091,157 shares of the company’s stock valued at $61,582,000 after acquiring an additional 5,168,217 shares in the last quarter. Winslow Capital Management LLC bought a new stake in shares of Proterra during the second quarter valued at approximately $61,870,000. BNP Paribas Asset Management Holding S.A. increased its position in shares of Proterra by 110.9% during the third 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 acquiring an additional 1,287,601 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in shares of Proterra during the third quarter valued at approximately $24,490,000. 29.33% of the stock is owned by institutional investors.

Proterra Company Profile (NASDAQ:PTRA)

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.

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