Via Transportation (NYSE:VIA) Stock Price Down 10.7% – Here’s What Happened

Shares of Via Transportation Inc. (NYSE:VIA) fell 10.7% during mid-day trading on Tuesday . The stock traded as low as $14.86 and last traded at $15.1250. 126,252 shares traded hands during trading, a decline of 81% from the average session volume of 676,010 shares. The stock had previously closed at $16.93.

Analyst Upgrades and Downgrades

VIA has been the topic of several research reports. Guggenheim decreased their target price on Via Transportation from $58.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. The Goldman Sachs Group restated a “buy” rating and issued a $28.00 price target on shares of Via Transportation in a research note on Monday, March 2nd. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Via Transportation in a research report on Monday, March 2nd. Oppenheimer reduced their target price on shares of Via Transportation from $59.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, January 22nd. Finally, Morgan Stanley decreased their price target 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. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Via Transportation Price Performance

The stock has a 50-day moving average of $16.23 and a 200-day moving average of $26.18. The firm has a market cap of $1.20 billion and a price-to-earnings ratio of -21.43.

Via Transportation (NYSE:VIA) last announced its quarterly earnings data on Friday, February 27th. The company reported $999.00 earnings per share for the quarter. On average, equities analysts expect that Via Transportation Inc. will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Via Transportation

Several institutional investors and hedge funds have recently bought and sold shares of the company. Assetmark Inc. grew its stake in Via Transportation by 89.0% during the first quarter. Assetmark Inc. now owns 3,632 shares of the company’s stock worth $54,000 after buying an additional 1,710 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Via Transportation by 51.8% in the 1st quarter. Bank of New York Mellon Corp now owns 37,360 shares of the company’s stock valued at $560,000 after buying an additional 12,753 shares in the last quarter. Ethos Financial Group LLC bought a new stake in shares of Via Transportation during the 1st quarter worth approximately $361,000. Principal Financial Group Inc. boosted its position in shares of Via Transportation by 39.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,086,438 shares of the company’s stock worth $16,297,000 after acquiring an additional 308,283 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in Via Transportation by 43.3% in the first quarter. Stephens Investment Management Group LLC now owns 335,591 shares of the company’s stock valued at $5,034,000 after acquiring an additional 101,380 shares during the last quarter. Institutional investors 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.