Via Transportation (NYSE:VIA) Shares Gap Down – Here’s Why

Shares of Via Transportation Inc. (NYSE:VIA) gapped down before the market opened on Friday . The stock had previously closed at $29.48, but opened at $28.58. Via Transportation shares last traded at $29.23, with a volume of 4,043 shares traded.

Analysts Set New Price Targets

A number of brokerages have issued reports on VIA. Raymond James Financial set a $55.00 target price 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 price objective on Via Transportation and gave the stock a “buy” rating in a report on Tuesday, October 7th. Wall Street Zen upgraded Via Transportation to a “hold” rating in a research note on Wednesday, September 24th. Oppenheimer set a $59.00 price target on Via Transportation and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Finally, Noble Financial cut Via Transportation to a “buy” rating in a research note on Tuesday, December 16th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.64.

Via Transportation Trading Down 4.0%

The company has a 50-day moving average price of $38.47. The company has a market capitalization of $2.26 billion and a P/E ratio of -40.03.

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

Institutional Trading of Via Transportation

Several large investors have recently modified their holdings of VIA. Wellington Management Group LLP bought a new position in Via Transportation in the 3rd quarter worth $93,662,000. Koch Inc. acquired a new position in shares of Via Transportation during the 3rd quarter worth about $81,747,000. Capital Research Global Investors bought a new stake in Via Transportation during the 3rd quarter valued at approximately $40,536,000. Vanguard Group Inc. bought a new stake in Via Transportation during the 3rd quarter valued at approximately $39,965,000. Finally, Capital International Investors bought a new position in Via Transportation in the 3rd quarter worth approximately $26,444,000. 74.40% of the stock is owned by institutional investors.

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.