Proterra Inc. [PTRA] Stock trading around $10.20 per share: What’s Next?


Proterra Inc. [NASDAQ: PTRA] gained 4.72% on the last trading session, reaching $10.20 price per share at the time. 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.

Proterra Inc. represents 212.07 million in outstanding shares, while the company has a total market value of $2.22 billion with the latest information. PTRA stock price has been found in the range of $9.85 to $10.425.

If compared to the average trading volume of 2.51M shares, PTRA reached a trading volume of 3735698 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 2.30. 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 0.52, with the Price to Sales ratio for PTRA stock in the period of the last 12 months amounting to 12.71. The Price to Book ratio for the last quarter was 3.06, with the Price to Cash per share for the same quarter was set at 3.35.

Trading performance analysis for PTRA stock

Proterra Inc. [PTRA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.23. With this latest performance, PTRA shares gained by 9.91% in over the last four-week period, additionally sinking by -14.93% over the last 6 months – not to mention a drop of -55.65% 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 60.18, with the RSI for the last a single of trading hit 70.86, and the three-weeks RSI is set at 54.75 for Proterra Inc. [PTRA]. The present Moving Average for the last 50 days of trading for this stock 10.28, while it was recorded at 9.48 for the last single week of trading, and 12.65 for the last 200 days.

Proterra Inc. [PTRA]: A deeper dive into fundamental analysis

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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An analysis of insider ownership at Proterra Inc. [PTRA]

There are presently around $656 million, or 35.50% 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 $79.1 million in PTRA stocks shares; and COWEN INVESTMENT MANAGEMENT LLC, currently with $63.53 million in PTRA stock with ownership of nearly New of the company’s market capitalization.

71 institutional holders increased their position in Proterra Inc. [NASDAQ:PTRA] by around 29,508,501 shares. Additionally, 31 investors decreased positions by around 12,624,713 shares, while 21 investors held positions by with 22,203,360 shares. The mentioned changes placed institutional holdings at 64,336,574 shares, according to the latest SEC report filing. PTRA stock had 41 new institutional investments in for a total of 16,503,602 shares, while 16 institutional investors sold positions of 7,108,295 shares during the same period.