SSgA Funds Management, Inc. recently announced the acquisition of new stake in Proterra Inc. (NASDAQ:PTRA). The institutional investor has increased its shareholding in the Consumer Cyclical company by 4.61% to 5.01 million shares with purchase of 0.22 million shares. This fresh investment now brings its stake to 2.21% valued currently at $5.86 million. In addition, Geode Capital Management LLC raised its holdings by 0.15 million to 4.01 million shares. And First Trust Advisors LP has lifted its position by 14.65% or 0.22 million shares – to 1.72 million shares.
With over 2.03 million Proterra Inc. (PTRA) shares trading Tuesday and a closing price of $1.25 on the day, the dollar volume was approximately $2.54 million. The shares have shown a negative half year performance of -78.67% and its price on 05/23/23 gained nearly 0.81%. Currently, there are 226.41M common shares owned by the public and among those 220.53M shares have been available to trade.
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The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $1.80. The average price target is 70.17% above its recent price level and an upside to the estimated low will see the stock gain 30.56% over that period. But an upside of 79.17% will see the stock hit the forecast high price target while median target price for the stock is $3.75.
Insiders at the company have transacted a total of 26 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 1,610,025 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 123,026 shares.
The top 3 mutual fund holders in Proterra Inc. are FTIF SICAV – Technology Fund, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. FTIF SICAV – Technology Fund owns 10.99 million shares of the company’s stock, all valued at over $12.86 million. Vanguard Small Cap Index Fund sold 3586.0 shares to bring its total holdings to over 5.0 million shares at a value of $5.85 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.21% of the shares outstanding.
Shares of Proterra Inc. (NASDAQ: PTRA) opened at $1.23, down -$0.01 from a prior closing price of $1.24. The company’s stock has a 5-day price change of 3.31% and -71.33% over the past three months. PTRA shares are trading -66.84% year to date (YTD), with the 12-month market performance down to -77.68% lower. It has a 12-month low price of $0.91 and touched a high of $7.70 over the same period. PTRA has an average intraday trading volume of 2.91 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.61%, -10.19%, and -70.59% respectively.
Institutional ownership of Proterra Inc. (NASDAQ: PTRA) shares accounts for 69.60% of the company’s 226.41M shares outstanding. Mutual fund holders own 31.90%, while other institutional holders and individual stakeholders account for 7.11% and 16.31% respectively.
It has a market capitalization of $281.20M. The earnings-per-share (ttm) stands at -$1.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.47% over the week and 10.75% over the month.
Analysts forecast that Proterra Inc. (PTRA) will achieve an EPS of -$0.24 for the current quarter, -$0.18 for the next quarter and -$0.38 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.28 while analysts give the company a high EPS estimate of -$0.2. Comparatively, EPS for the current quarter was -$0.19 a year ago. Earnings per share for the fiscal year are expected to increase by 48.70%, and 71.20% over the next financial year.
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