For Proterra Inc. [PTRA], Analyst sees a rise to $7. What next?

Proterra Inc. [NASDAQ: PTRA] loss -4.60% or -0.14 points to close at $3.01 with a heavy trading volume of 3063334 shares. The company report on February 28, 2023 that Proterra CEO Gareth Joyce Appointed by President Biden to the President’s Export Council.

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Proterra CEO Gareth Joyce Appointed by President Biden to the President’s Export Council.

It opened the trading session at $3.15, the shares rose to $3.17 and dropped to $2.99, the range by which the price of stock traded the whole day. The daily chart for PTRA points out that the company has recorded -49.50% loss over the past six months. However, it is still 4.44% higher than its most recent low trading price.

If we look at the average trading volume of 1.45M shares, PTRA reached to a volume of 3063334 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 $7.93 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 2.50. 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.

BTIG Research have made an estimate for Proterra Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 17, 2022. While these analysts kept the previous recommendation, Truist raised their target price to Buy. The new note on the price target was released on September 29, 2022, representing the official price target for Proterra Inc. stock. Previously, the target price had yet another raise to $10, while DA Davidson analysts kept a Buy rating on PTRA stock. On May 13, 2022, analysts decreased their price target for PTRA shares from 12.25 to 5.

The Average True Range (ATR) for Proterra Inc. is set at 0.32, with the Price to Sales ratio for PTRA stock in the period of the last 12 months amounting to 2.55. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 1.62.

Trading performance analysis for PTRA stock

Proterra Inc. [PTRA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -24.94. With this latest performance, PTRA shares dropped by -40.98% in over the last four-week period, additionally sinking by -49.50% over the last 6 months – not to mention a drop of -58.37% 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 26.32, with the RSI for the last a single of trading hit 19.05, and the three-weeks RSI is set at 31.59 for Proterra Inc. [PTRA]. The present Moving Average for the last 50 days of trading for this stock 4.41, while it was recorded at 3.47 for the last single week of trading, and 5.28 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 4.90 and a Current Ratio set at 6.30.

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

There are presently around $415 million, or 69.60% of PTRA stock, in the hands of institutional investors. The top three institutional holders of PTRA stocks are: FRANKLIN RESOURCES INC with ownership of 30,690,894, which is approximately -1.676% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 18,794,569 shares of the stock with an approximate value of $56.57 million in PTRA stocks shares; and BLACKROCK INC., currently with $45.63 million in PTRA stock with ownership of nearly 9.362% of the company’s market capitalization.

Positions in Proterra Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 88 institutional holders increased their position in Proterra Inc. [NASDAQ:PTRA] by around 5,404,148 shares. Additionally, 63 investors decreased positions by around 2,812,201 shares, while 49 investors held positions by with 129,765,333 shares. The mentioned changes placed institutional holdings at 137,981,682 shares, according to the latest SEC report filing. PTRA stock had 23 new institutional investments in for a total of 729,446 shares, while 23 institutional investors sold positions of 1,010,369 shares during the same period.


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