Proterra Inc. (NASDAQ: PTRA) stock jumped 7.86% on Monday to $5.35 against a previous-day closing price of $4.96. With 0.93 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.24 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $5.36 whereas the lowest price it dropped to was $4.89. The 52-week range on PTRA shows that it touched its highest point at $9.20 and its lowest point at $3.47 during that stretch. It currently has a 1-year price target of $7.93.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PTRA was up-trending over the past week, with a rise of 7.86%, but this was up by 26.18% over a month. Three-month performance surged to 5.11% while six-month performance rose 12.87%. The stock lost -36.08% in the past year, while it has gained 41.91% so far this year. A look at the trailing 12-month EPS for PTRA yields -1.07 with Next year EPS estimates of -0.78. For the next quarter, that number is -0.24. This implies an EPS growth rate of -112.80% for this year and 9.30% for next year.
Float and Shares Shorts:
At present, 225.29 million PTRA shares are outstanding with a float of 220.58 million shares on hand for trading. On Dec 29, 2022, short shares totaled 12.78 million, which was 5.67% higher than short shares on Nov 29, 2022. In addition to Mr. Gareth T. Joyce as the firm’s Pres, CEO & Director, Mr. Christopher L. Bailey serves as its Pres of Proterra Powered & Energy Bus. Units.
Through their ownership of 69.44% of PTRA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 6.42% of PTRA, in contrast to 35.09% held by mutual funds. Shares owned by individuals account for 15.73%. As the largest shareholder in PTRA with 13.78% of the stake, Franklin Advisers, Inc. holds 31,064,572 shares worth 31,064,572. A second-largest stockholder of PTRA, The Vanguard Group, Inc., holds 18,535,542 shares, controlling over 8.22% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PTRA, holding 12,069,693 shares or 5.35% stake. With a 4.88% stake in PTRA, the FTIF SICAV – Technology Fund is the largest stakeholder. A total of 10,992,187 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.71% of PTRA stock, is the second-largest Mutual Fund holder. It holds 6,100,871 shares valued at 23.0 million. iShares Russell 2000 ETF holds 2.21% of the stake in PTRA, owning 4,977,551 shares worth 18.77 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, PTRA reported revenue of $74.56M and operating income of -$46.05M. The EBITDA in the recently reported quarter was -$41.03M and diluted EPS was -$0.38.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PTRA since 7 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PTRA analysts setting a high price target of $10.00 and a low target of $5.00, the average target price over the next 12 months is $7.50. Based on these targets, PTRA could surge 86.92% to reach the target high and fall by -6.54% to reach the target low. Reaching the average price target will result in a growth of 40.19% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PTRA will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.79 being high and -$0.96 being low. For PTRA, this leads to a yearly average estimate of -$0.86. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Proterra Inc. surprised analysts by -$0.08 when it reported -$0.29 EPS against a consensus estimate of -$0.21. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.22 and the low estimate is -$0.29. The average estimate for the next quarter is thus -$0.25.
Summary of Insider Activity:
Insiders traded PTRA stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 52,446 shares were bought while 52,446 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 1,414,650 while 71,891 shares were sold.