why Proterra Inc. [PTRA] is a Good Choice for Investors After New Price Target of $10.79


Proterra Inc. [NASDAQ: PTRA] gained 2.03% or 0.15 points to close at $7.53 with a heavy trading volume of 5310862 shares. The company report on March 22, 2022 that Proterra announces multi-year battery supply agreement with The Shyft Group for Blue Arc electric delivery vans and EV chassis.

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Blue Arc’s EV chassis featuring a Proterra battery system.

Proterra Inc (NASDAQ: PTRA), a leading innovator in commercial vehicle electrification technology, today announced a strategic, multi-year supply agreement with The Shyft Group® to power their Blue Arc™ purpose-built electric delivery van and EV chassis with Proterra’s industry-leading battery technology.

It opened the trading session at $7.37, the shares rose to $7.69 and dropped to $7.25, the range by which the price of stock traded the whole day. The daily chart for PTRA points out that the company has recorded -24.70% loss over the past six months. However, it is still -15.49% lower than its most recent low trading price.

If we look at the average trading volume of 2.76M shares, PTRA reached to a volume of 5310862 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 $10.79 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 0.55, with the Price to Sales ratio for PTRA stock in the period of the last 12 months amounting to 9.86. The Price to Book ratio for the last quarter was 2.26, with the Price to Cash per share for the same quarter was set at 3.19.

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 9.29. With this latest performance, PTRA shares dropped by -11.72% in over the last four-week period, additionally sinking by -24.70% over the last 6 months – not to mention a drop of -54.91% 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 47.47, with the RSI for the last a single of trading hit 49.80, and the three-weeks RSI is set at 46.44 for Proterra Inc. [PTRA]. The present Moving Average for the last 50 days of trading for this stock 8.09, while it was recorded at 7.53 for the last single week of trading, and 10.64 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Proterra Inc. [PTRA] shares currently have an operating margin of -52.55 and a Gross Margin at +0.84. Proterra Inc.’s Net Margin is presently recorded at -102.94.

Return on Equity for this stock declined to -53.26, with Return on Assets sitting at -39.66.

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

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

There are presently around $910 million, or 54.70% of PTRA stock, in the hands of institutional investors. The top three institutional holders of PTRA stocks are: FRANKLIN RESOURCES INC with ownership of 24,333,975, which is approximately 299.497% of the company’s market cap and around 0.60% of the total institutional ownership; KPCB GGF ASSOCIATES, LLC, holding 15,563,577 shares of the stock with an approximate value of $117.19 million in PTRA stocks shares; and TAO PRO LLC, currently with $86.73 million in PTRA stock with ownership of nearly New of the company’s market capitalization.

Positions in Proterra Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 106 institutional holders increased their position in Proterra Inc. [NASDAQ:PTRA] by around 65,701,675 shares. Additionally, 45 investors decreased positions by around 8,700,546 shares, while 15 investors held positions by with 46,456,231 shares. The mentioned changes placed institutional holdings at 120,858,452 shares, according to the latest SEC report filing. PTRA stock had 59 new institutional investments in for a total of 27,088,514 shares, while 23 institutional investors sold positions of 3,133,873 shares during the same period.