Proterra (NASDAQ:PTRA) Price Target Lowered to $6.50 at Citigroup

Proterra (NASDAQ:PTRAGet Rating) had its price objective reduced by equities research analysts at Citigroup from $8.50 to $6.50 in a research note issued on Monday, The Fly reports. The firm presently has a “na” rating on the stock. Citigroup’s price target would suggest a potential upside of 14.84% from the company’s current price.

A number of other brokerages have also recently weighed in on PTRA. Barclays reduced their price target on shares of Proterra from $11.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, March 10th. Zacks Investment Research upgraded Proterra from a “sell” rating to a “hold” rating in a research note on Wednesday, May 4th. Morgan Stanley lowered their target price on shares of Proterra from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 5th. Finally, Bank of America downgraded shares of Proterra from a “buy” rating to an “underperform” rating and reduced their price target for the company from $12.25 to $5.00 in a research report on Friday, May 13th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.70.

NASDAQ PTRA opened at $5.66 on Monday. Proterra has a 52 week low of $4.43 and a 52 week high of $20.12. The firm has a 50 day moving average of $6.71 and a two-hundred day moving average of $8.45. The company has a quick ratio of 7.93, a current ratio of 9.37 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.26 billion, a PE ratio of -1.03 and a beta of -0.82.

Proterra (NASDAQ:PTRAGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.27). Proterra had a negative net margin of 100.20% and a negative return on equity of 17.39%. The business had revenue of $58.58 million during the quarter, compared to analyst estimates of $72.06 million. On average, equities research analysts expect that Proterra will post -0.68 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FourThought Financial LLC boosted its stake in shares of Proterra by 19.1% during the 4th quarter. FourThought Financial LLC now owns 7,669 shares of the company’s stock worth $68,000 after acquiring an additional 1,232 shares in the last quarter. Toroso Investments LLC boosted its position in shares of Proterra by 1.1% in the 4th quarter. Toroso Investments LLC now owns 125,965 shares of the company’s stock worth $1,112,000 after buying an additional 1,387 shares in the last quarter. PFS Investments Inc. boosted its position in shares of Proterra by 23.6% in the 1st quarter. PFS Investments Inc. now owns 14,047 shares of the company’s stock worth $106,000 after buying an additional 2,686 shares in the last quarter. Cohen Capital Management Inc. grew its stake in Proterra by 1.0% in the 1st quarter. Cohen Capital Management Inc. now owns 293,242 shares of the company’s stock valued at $2,205,000 after acquiring an additional 2,886 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in Proterra by 16.9% during the 4th quarter. LPL Financial LLC now owns 21,075 shares of the company’s stock valued at $186,000 after acquiring an additional 3,044 shares in the last quarter. Hedge funds and other institutional investors own 54.79% of the company’s stock.

About Proterra (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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