Proterra, Inc. (PTRA)
August 7, 2023
We are removing our Outperform rating and dropping coverage on the shares of Proterra (PTRA; $1.43) after the management team, led by Chairman of the Board Roger Nielsen, who is a former CEO of Daimler…
June 22, 2023
On Tuesday (6/20), we hosted a “fireside chat” with Proterra’s (PTRA; $1.23; O/P) CEO Gareth Joyce at our Transportation Technology Conference. The discussion highlighted further how extremely important it is to the stock that management…
May 10, 2023
We move our EBITDA forecasts higher for Proterra (PTRA; $1.46; O/P) after it reiterated 2023E sales targets of $450-500mm (+45-61% YoY) along with expectations that gross margins improve meaningfully in coming quarters as it ramps…
May 1, 2023
This morning, Proterra (PTRA; $1.17; O/P) announced that CFO Karina Padilla, who joined the company in January of last year, plans to “step down” effective as of May 15th. Ms. Padilla will be succeeded by…
March 29, 2023
This morning, the South Carolina Department of Education announced plans to deploy 160 electric school buses, which will be powered by Proterra’s (PTRA; $1.51; O/P) battery technology, in school districts across the state over the…
March 20, 2023
Proterra (PTRA; $1.32; O/P) shares are still down 47% since releasing Q4 results on 3/15 and some guidance for 2023E, reflecting a combination of concerns that the company would breach its convertible debt covenants, resolved…
January 20, 2023
Last night, Proterra (PTRA; $4.87; O/P) announced plans to concentrate its electric bus and battery manufacturing at its facilities in South Carolina, leading the company to exit its plant in City of Industry, CA, which…
November 3, 2022
Proterra (PTRA; $5.87; O/P) produced Q3 sales of $96mm (+55% YoY), well above our $80mm and the Street’s $81mm, while reiterating full 2022E sales targets of $300-325mm (+24-34% YoY). At the same time, EBITDA losses…