Electric bus and battery maker Proterra reported fourth quarter results Tuesday evening. Sales came in better than expected, but higher supply chain costs and weaker than expected 2022 sales guidance are pressuring shares. Proterra (ticker: PTRA) stock dropped 9% in regular hours trading on a tough day for markets.
Similarly Is Proterra on Robinhood? Proterra: PTRA Stock Price Quote & News | Robinhood.
Is PTRA a SPAC? Proterra (ticker: PTRA) has one big problem: It merged with a SPAC in mid-June in order to go public, and has seen its share price tumble as investors sold off SPACs at the end of the year. Proterra dropped 21% last month, hitting a 52-week low on Dec. 20. The shares now trade below their $10 price at the SPAC merger.
Additionally, Is proterra Inc a buy?
Proterra Inc (PTRA) stock is down -70.84% over the last 12 months, and the average rating from Wall Street analysts is a Buy. InvestorsObserver’s proprietary ranking system, gives PTRA stock a score of 23 out of a possible 100. That rank is chiefly influenced by a long-term technical score of 2.
What is wrong with Proterra?
South Carolina-made Proterra buses were failing on steep hills in Duluth. The buses have experienced cracked chassis that forced Philadelphia’s transit agency to mothball their share of Proterras, although both the manufacturer and the Duluth Transit Agency say the cracks are cosmetic.
Is Proterra a good stock to buy? Based on that, its current stock price implies a price-to-forward sales ratio of roughly 0.8 times, which looks reasonable. The company has a robust order backlog for both its buses and battery systems. Proterra stock may not return to price levels seen at the start of 2021 any time soon.
What happened to Proterra? Proterra (ticker: PTRA) has one big problem: It merged with a SPAC in mid-June in order to go public, and has seen its share price tumble as investors sold off SPACs at the end of the year. Proterra dropped 21% last month, hitting a 52-week low on Dec. 20. The shares now trade below their $10 price at the SPAC merger.
When did PTRA go public? Per company press releases, Proterra last raised $155 million in September 2018 at a post-money valuation of $855 million. Proterra became a publicly listed company on February 25, 2021 after completing a business combination with ArcLight Clean Transition, a publicly traded special purpose acquisition company.
Who bought Proterra?
Electric bus and vehicle company Proterra made its Wall Street debut Tuesday after its merger with special purpose acquisition company (SPAC) ArcLight Clean Transition Corp. Shares of the California company — traded under the ticker symbol PTRA— were around $17.14 in midday trading after opening at $18.52.
How much cash does Proterra? With an unrestricted cash and short-term investment balance of $762 million as of June 30, 2021, we believe we are amply capitalized to fund our growth opportunities until we achieve our goal of positive free cash flow in a few years.
Who are Proterra investors?
Proterra Investment Partners is an alternative investment manager focused on private equity investments in the natural resource sectors of agriculture, food, and metals and mining.
Where is Proterra based? Proterra is an American automotive and energy storage company based in Burlingame, California. The company designs and manufactures electric transit buses and electric charging systems.
Where are proterra buses made?
Proterra buses manufactured in the Industry factory are operating in communities in California, including Fresno County, the city of Stockton, and the San Gabriel and Pomona Valleys.
Are Septa buses Electric?
SEPTA has purchased 525 new hybrid-electric buses, the first of which are already in service. By 2021, all of the new buses will be delivered, and hybrids will comprise over 90% of SEPTA’s bus fleet.
What kind of batteries do electric buses use? 4. What Kind of Batteries Are Used in Electric Buses? Most electric buses today use a lithium-ion battery. This battery technology has dropped dramatically in price over the last decade, making it more accessible.
How much will Proterra stock be worth? Proterra investors
Proterra’s latest valuation is reported to be $1 b.
Is Proterra a profitable company?
Proterra’s latest earnings report was released on November 10th and revealed a positive net income of $36.3 million for the third quarter with revenues growing 30% year-over-year.
Are electric buses viable? Metro found that the range and charging times of today’s battery electric buses can meet the needs of 70% of its routes. Anticipated advances in technology will allow the remainder of Metro’s routes to be serviced by electric buses.
How much does a Proterra bus cost?
Many of these buses were produced by Proterra, a South Carolina company that opened an electric bus manufacturing facility in City of Industry in 2017, in part to supply Foothill Transit. At the time, the electric buses were reported to cost about $775,000.
How can I invest in Proterra? How to buy shares in Proterra
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