Via Transportation (NYSE:VIA) Shares Down 5.4% – Time to Sell?

Via Transportation Inc. (NYSE:VIA)’s stock price was down 5.4% on Tuesday . The stock traded as low as $32.56 and last traded at $31.76. Approximately 27,522 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 281,389 shares. The stock had previously closed at $33.56.

Wall Street Analysts Forecast Growth

VIA has been the subject of several research reports. Raymond James Financial set a $55.00 price objective on shares of Via Transportation and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of Via Transportation and gave the stock a “buy” rating in a report on Tuesday, October 7th. Wolfe Research assumed coverage on shares of Via Transportation in a report on Tuesday, October 7th. They issued an “outperform” rating and a $60.00 price target on the stock. Citizens Jmp assumed coverage on Via Transportation in a research note on Tuesday, October 7th. They set a “mkt outperform” rating and a $59.00 price objective for the company. Finally, William Blair started coverage on Via Transportation in a report on Tuesday, October 7th. They issued an “outperform” rating for the company. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.64.

Via Transportation Stock Performance

The firm has a 50-day moving average price of $45.11.

Via Transportation (NYSE:VIA) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.04). The company had revenue of $109.65 million during the quarter, compared to analysts’ expectations of $106.42 million.

Institutional Investors Weigh In On Via Transportation

Institutional investors have recently added to or reduced their stakes in the stock. Woodline Partners LP purchased a new stake in Via Transportation in the 3rd quarter worth $962,000. Alyeska Investment Group L.P. acquired a new stake in shares of Via Transportation in the third quarter valued at about $2,885,000. Susquehanna International Group LLP acquired a new position in shares of Via Transportation during the 3rd quarter worth about $381,000. Quantessence Capital LLC purchased a new position in Via Transportation in the 3rd quarter valued at about $321,000. Finally, Millennium Management LLC acquired a new stake in Via Transportation in the 3rd quarter worth about $4,544,000. 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.