Via Transportation (NYSE:VIA) Trading Down 5.1% – Here’s Why

Via Transportation Inc. (NYSE:VIA)’s share price was down 5.1% on Wednesday . The company traded as low as $36.69 and last traded at $36.0150. Approximately 17,978 shares changed hands during trading, a decline of 94% from the average daily volume of 287,053 shares. The stock had previously closed at $37.94.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wells Fargo & Company assumed coverage on Via Transportation in a research note on Tuesday, October 7th. They issued an “overweight” rating and a $60.00 target price for the company. Citigroup started coverage on Via Transportation in a research report on Tuesday, October 7th. They set an “outperform” rating on the stock. JMP Securities started coverage on Via Transportation in a report on Tuesday, October 7th. They issued a “market outperform” rating and a $59.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Via Transportation in a report on Tuesday, October 7th. They set a “neutral” rating and a $50.00 price objective on the stock. Finally, William Blair initiated coverage on shares of Via Transportation in a report on Tuesday, October 7th. They set an “outperform” rating for the company. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.64.

Via Transportation Stock Performance

Via Transportation (NYSE:VIA) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.04). The company had revenue of $109.65 million for the quarter, compared to the consensus estimate of $106.42 million.

Institutional Trading of Via Transportation

Several hedge funds have recently added to or reduced their stakes in VIA. Bank of America Corp DE bought a new position in shares of Via Transportation during the third quarter valued at about $29,000. Assetmark Inc. purchased a new stake in Via Transportation during the 3rd quarter valued at about $36,000. PNC Financial Services Group Inc. bought a new position in Via Transportation during the 3rd quarter worth approximately $60,000. WINTON GROUP Ltd purchased a new position in Via Transportation in the 3rd quarter worth approximately $219,000. Finally, Legal & General Group Plc bought a new stake in Via Transportation in the third quarter valued at approximately $239,000. 74.40% of the stock is owned by institutional investors.

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.