The Potential Rise in the Price of Proterra Inc. (PTRA) following insiders activity


In a filing, Proterra Inc. revealed its Chief Legal Officer, Secy Covington JoAnn unloaded Company’s shares for reported $0.39 million on Nov 14. In the deal valued at $7.51 per share,52,446 shares were sold. As a result of this transaction, Covington JoAnn now holds 127,125 shares worth roughly $ 0.68 million.

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Then, Covington JoAnn sold 3,492 shares, generating $21,266 in total proceeds. Upon selling the shares at $6.09, the Chief Legal Officer, Secy now owns 127,125 shares.

Before that, Joyce Gareth T sold 3,395 shares. Proterra Inc. shares valued at $21,206 were divested by the CEO and President at a price of $6.25 per share. As a result of the transaction, Joyce Gareth T now holds 377,806 shares, worth roughly $2.02 million.

BTIG Research initiated its Proterra Inc. [PTRA] rating to a Buy in a research note published on Monday, October 17, 2022; the price target was $7. PT values the company’s stock at a premium of 23.57 to its Monday closing price. A number of analysts have revised their coverage, including Truist’s analysts, who began to cover the stock in late September with a ‘”a Buy”‘ rating. DA Davidson began covering PTRA with “Buy” recommendation on June 02, 2022. BofA Securities revised its rating on May 13, 2022. It rated PTRA as “an Underperform” which previously was an “a Buy”.

Price Performance Review of PTRA

On Monday, Proterra Inc. [NASDAQ:PTRA] saw its stock jump 7.86% to $5.35. On the same session, the stock had its day’s lowest price of $4.87, but rose to a high of $5.355. Over the last five days, the stock has gained 7.86%. Proterra Inc. shares have risen nearly 41.91% since the year began. Nevertheless, the stocks have fallen -36.08% over the past one year. While a 52-week high of $9.20 was reached on 01/18/23, a 52-week low of $3.47 was recorded on 01/06/23. SMA at 50 days reached $4.96, while 200 days put it at $5.55. A total of 0.93 million shares were traded, compared to the trading of 1.6 million shares in the previous session.

Levels Of Support And Resistance For PTRA Stock

The 24-hour chart illustrates a support level at 5.03, which if violated will result in even more drops to 4.71. On the upside, there is a resistance level at 5.51. A further resistance level may holdings at 5.68. The Relative Strength Index (RSI) on the 14-day chart is 64.89, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.61, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 0.53%. Stochastics %K at 81.79% indicates the stock is a selling.

How much short interest is there in Proterra Inc.?

A steep rise in short interest was recorded in Proterra Inc. stocks on Oct 13, 2022, growing by 0.21 million shares to a total of 11.22 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 11.01 million shares. There was a rise of 1.87%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.70% of the overall stock float, the days-to-cover ratio (short ratio) rose to 10.47.

Proterra Inc. [PTRA] – Who Are The Largest Shareholders?

In filings from Franklin Advisers, Inc., it is revealed that the company now owns 31,064,572 shares, or roughly 13.78% of the outstanding PTRA shares. In other words, the investor’s shares have risen by 3,954,235 from its previous 13-F filing of 27110337.0. Additionally, The Vanguard Group, Inc. increased 2.95% of its stake after which the total value it holdings stand at $69,878,993, while BlackRock Fund Advisors reduced -0.44% of its stake to hold $45.5 million in the firm. Over the last quarter, Winslow Capital Management LLC sold -16,626 shares of Proterra Inc., while Generation Investment Management sold 0 shares. At present, SSgA Funds Management, Inc. is holding 4,787,348 shares valued at $18.05 million. BNP Paribas Asset Management UK L owned 4,689,811 shares of the company at the time of its most recent 13F filing, worth $17.68 million.

According to FactSet, Proterra Inc.’s share price will average $7.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 41.13 percent from its previous closing price of $4.96. Analysts expect Proterra Inc. stock to reach the higher price of $10.00, while the lowest price estimate is $5.00. However, 7 analysts have rated PTRA stock as an Overweight in their predictions for 2023. The most recent change occurred on October 22, 2021 when Morgan Stanley began covering the stock and recommended ‘”an Equal-weight”‘ rating along with a $12 price target.


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