Via Transportation (NYSE:VIA) Shares Down 3.6% – Should You Sell?

Shares of Via Transportation Inc. (NYSE:VIA) dropped 3.6% on Friday . The company traded as low as $31.92 and last traded at $32.0650. Approximately 33,775 shares were traded during trading, a decline of 90% from the average daily volume of 335,314 shares. The stock had previously closed at $33.25.

Analysts Set New Price Targets

VIA has been the subject of several research analyst reports. Noble Financial lowered Via Transportation to a “buy” rating in a report on Tuesday. JMP Securities assumed coverage on Via Transportation in a research report on Tuesday, October 7th. They set a “market outperform” rating and a $59.00 price target on the stock. Wells Fargo & Company assumed coverage on shares of Via Transportation in a report on Tuesday, October 7th. They issued an “overweight” rating and a $60.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Via Transportation in a research note on Tuesday, October 7th. They set a “neutral” rating and a $50.00 target price for the company. Finally, Morgan Stanley initiated coverage on shares of Via Transportation in a research report on Tuesday, October 7th. They issued an “equal weight” rating and a $53.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.64.

Via Transportation Stock Down 0.9%

The business’s 50 day simple moving average is $41.98.

Via Transportation (NYSE:VIA) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $106.42 million.

Institutional Inflows and Outflows

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

About Via Transportation

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.