Via Transportation (NYSE:VIA) Trading Down 10.3% – Here’s What Happened
by Jessica Moore · The Cerbat GemVia Transportation Inc. (NYSE:VIA – Get Free Report)’s share price fell 10.3% during mid-day trading on Thursday . The company traded as low as $16.17 and last traded at $15.8110. 22,778 shares were traded during trading, a decline of 97% from the average session volume of 686,065 shares. The stock had previously closed at $17.63.
Analysts Set New Price Targets
A number of brokerages have issued reports on VIA. Oppenheimer cut their price target on shares of Via Transportation from $59.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, January 22nd. Morgan Stanley cut their price objective on shares of Via Transportation from $41.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $28.00 price objective on shares of Via Transportation in a research note on Monday, March 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Via Transportation in a research note on Monday, December 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Via Transportation in a research note on Monday, March 2nd. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.
Read Our Latest Research Report on VIA
Via Transportation Stock Down 10.5%
The stock has a market cap of $1.28 billion and a price-to-earnings ratio of -22.87. The stock’s 50 day moving average price is $16.39 and its two-hundred day moving average price is $28.74.
Via Transportation (NYSE:VIA – Get Free Report) last released its quarterly earnings data on Friday, February 27th. The company reported $999.00 earnings per share for the quarter. On average, analysts predict that Via Transportation Inc. will post -0.77 earnings per share for the current fiscal year.
Institutional Trading of Via Transportation
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in Via Transportation by 153.9% during the fourth quarter. Capital Research Global Investors now owns 2,140,200 shares of the company’s stock valued at $62,087,000 after buying an additional 1,297,114 shares during the period. Wellington Management Group LLP acquired a new stake in Via Transportation during the third quarter valued at $93,662,000. Koch Inc. acquired a new stake in Via Transportation during the third quarter valued at $81,747,000. Vanguard Group Inc. acquired a new stake in Via Transportation during the third quarter valued at $39,965,000. Finally, ArrowMark Colorado Holdings LLC grew its position in Via Transportation by 41.2% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 599,909 shares of the company’s stock valued at $17,403,000 after buying an additional 174,909 shares during the period. Institutional investors and hedge funds own 74.40% of the company’s stock.
Via Transportation Company Profile
Via transforms antiquated and siloed public transportation systems into smart, data-driven, and efficient digital networks. We are addressing a striking gap in the $545 billion global public transportation market. While billions of people across the globe rely on public transportation, this critical form of mobility has yet to meaningfully benefit from recent advances in technology. Buses still follow fixed routes and schedules planned years, if not decades ago, regardless of actual demand for their service.