Via Transportation (NYSE:VIA) Shares Down 7.3% – What’s Next?

Via Transportation Inc. (NYSE:VIA) shares traded down 7.3% during trading on Wednesday . The stock traded as low as $25.03 and last traded at $24.9210. 107,832 shares were traded during trading, a decline of 78% from the average session volume of 493,129 shares. The stock had previously closed at $26.87.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VIA shares. JMP Securities initiated 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. Raymond James Financial set a $55.00 target price on Via Transportation and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Morgan Stanley initiated coverage on Via Transportation in a research note on Tuesday, October 7th. They issued an “equal weight” rating and a $53.00 price target for the company. Needham & Company LLC reiterated a “buy” rating on shares of Via Transportation in a research note on Tuesday, December 16th. Finally, Wolfe Research began coverage on shares of Via Transportation in a research report on Tuesday, October 7th. They issued an “outperform” rating and a $60.00 target price for the company. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Via Transportation presently has an average rating of “Moderate Buy” and a consensus target price of $56.64.

Via Transportation Trading Down 2.7%

The company has a market cap of $1.86 billion and a P/E ratio of -33.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.17 and a quick ratio of 5.17. The company’s 50 day moving average is $32.74.

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 analysts’ consensus estimates of ($0.65) by ($0.04). The company had revenue of $109.65 million during the quarter, compared to analyst estimates of $106.42 million.

Institutional Investors Weigh In On Via Transportation

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

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.