Proterra Inc. [PTRA] is -19.13% lower this YTD. Is it still time to buy?



Proterra Inc. [NASDAQ: PTRA] price surged by 2.17 percent to reach at $0.19. The company report on December 14, 2021 that Proterra announces EV battery factory in South Carolina as demand for commercial electric vehicles grows.

Proterra expands manufacturing to support growing demand for its market-leading high-energy density, long-life electric vehicle battery systems.

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New factory in Greer, South Carolina will manufacture battery systems for Proterra Powered customers’ electric vehicles, including delivery and work trucks, industrial equipment, buses, and more.

A sum of 2329205 shares traded at recent session while its average daily volume was at 2.38M shares. Proterra Inc. shares reached a high of $9.16 and dropped to a low of $8.73 until finishing in the latest session at $8.96.

The one-year PTRA stock forecast points to a potential upside of 41.55. The average equity rating for PTRA stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Proterra Inc. [PTRA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PTRA shares is $15.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PTRA stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Proterra Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on October 22, 2021. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on September 24, 2021, representing the official price target for Proterra Inc. stock. Previously, the target price had yet another raise to $15, while BofA Securities analysts kept a Buy rating on PTRA stock.

The Average True Range (ATR) for Proterra Inc. is set at 0.59, with the Price to Sales ratio for PTRA stock in the period of the last 12 months amounting to 11.18. The Price to Book ratio for the last quarter was 2.69, with the Price to Cash per share for the same quarter was set at 3.34.

PTRA Stock Performance Analysis:

Proterra Inc. [PTRA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.11. With this latest performance, PTRA shares dropped by -20.07% in over the last four-week period, additionally sinking by -47.08% over the last 6 months – not to mention a drop of -20.92% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PTRA stock in for the last two-week period is set at 41.33, with the RSI for the last a single of trading hit 42.20, and the three-weeks RSI is set at 42.37 for Proterra Inc. [PTRA]. The present Moving Average for the last 50 days of trading for this stock 10.46, while it was recorded at 8.91 for the last single week of trading, and 12.97 for the last 200 days.

Insight into Proterra Inc. Fundamentals:

Proterra Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.10 and a Current Ratio set at 10.20.

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Proterra Inc. [PTRA] Insider Position Details

There are presently around $564 million, or 35.30% of PTRA stock, in the hands of institutional investors. The top three institutional holders of PTRA stocks are: KPCB GGF ASSOCIATES, LLC with ownership of 15,563,577, which is approximately 2.836% of the company’s market cap and around 0.20% of the total institutional ownership; SOROS FUND MANAGEMENT LLC, holding 7,754,587 shares of the stock with an approximate value of $68.01 million in PTRA stocks shares; and COWEN INVESTMENT MANAGEMENT LLC, currently with $54.63 million in PTRA stock with ownership of nearly New of the company’s market capitalization.

73 institutional holders increased their position in Proterra Inc. [NASDAQ:PTRA] by around 29,612,265 shares. Additionally, 31 investors decreased positions by around 12,623,814 shares, while 19 investors held positions by with 22,050,411 shares. The mentioned changes placed institutional holdings at 64,286,490 shares, according to the latest SEC report filing. PTRA stock had 44 new institutional investments in for a total of 16,657,450 shares, while 16 institutional investors sold positions of 7,108,295 shares during the same period.