During the last session, Proterra Inc. (NASDAQ:PTRA)’s traded shares were 1.61 million. At the end of the trading day, the stock’s price was $1.22, reflecting an intraday loss of -2.40% or -$0.03. The 52-week high for the PTRA share is $7.70, that puts it down -531.15 from that peak though still a striking 25.41% gain since the share price plummeted to a 52-week low of $0.91. The company’s market capitalization is $274.45M, and the average intraday trading volume over the past 10 days was 1.59 million shares, and the average trade volume was 2.92 million shares over the past three months.
Proterra Inc. (PTRA) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.40. PTRA has a Sell rating from 0 analyst(s) out of 6 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.24.
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Proterra Inc. (NASDAQ:PTRA) trade information
Proterra Inc. (PTRA) registered a -2.40% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -2.40% in intraday trading to $1.22 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 4.72%, and it has moved by 14.55% in 30 days. Based on these gigs, the overall price performance for the year is -78.82%. The short interest in Proterra Inc. (NASDAQ:PTRA) is 15.47 million shares and it means that shorts have 6.99 day(s) to cover.
The consensus price target of analysts on Wall Street is $3.73, which implies an increase of 67.29% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.80 and $6.00 respectively. As a result, PTRA is trading at a discount of -391.8% off the target high and -47.54% off the low.
Proterra Inc. (PTRA) estimates and forecasts
Statistics show that Proterra Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Proterra Inc. (PTRA) shares have gone down -78.67% during the last six months, with a year-to-date growth rate more than the industry average at 22.32% against 11.50. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -26.30% this quarter and then jump 60.00% in the quarter after that. In the rating firms’ projections, revenue will increase 52.90% compared to the previous financial year.
Revenue for the current quarter is expected to be $93.33 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $141.08 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $74.56 million and $96.22 million respectively. In this case, analysts expect current quarter sales to grow by 25.20% and then jump by 46.60% in the coming quarter.
While earnings are projected to return 48.70% in 2023.
Proterra Inc. is due to release its next quarterly earnings on May 09. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Proterra Inc. (NASDAQ:PTRA)’s Major holders
Proterra Inc. insiders own 2.62% of total outstanding shares while institutional holders control 70.09%, with the float percentage being 71.97%. Franklin Resources, Inc. is the largest shareholder of the company, while 238 institutions own stock in it. As of Mar 30, 2023, the company held over 29.7 million shares (or 13.09% of all shares), a total value of $36.23 million in shares.
The next largest institutional holding, with 19.03 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 8.39% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $23.22 million.
Also, the Mutual Funds coming in first place with the largest holdings of Proterra Inc. (PTRA) shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 6.1 million shares. This amounts to just over 2.69 percent of the company’s overall shares, with a $7.44 million market value. The same data shows that the other fund manager holds slightly less at 4.94 million, or about 2.18% of the stock, which is worth about $6.03 million.