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

Via Transportation Inc. (NYSE:VIA)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $21.51, but opened at $20.35. Via Transportation shares last traded at $20.6710, with a volume of 22,499 shares trading hands.

Wall Street Analyst Weigh In

VIA has been the subject of several research reports. William Blair began coverage on Via Transportation in a report on Tuesday, October 7th. They issued an “outperform” rating for the company. Noble Financial cut Via Transportation to a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Via Transportation in a research note on Monday, December 29th. JMP Securities assumed coverage on shares of Via Transportation in a research report on Tuesday, October 7th. They set a “market outperform” rating and a $59.00 price target for the company. Finally, Citigroup initiated coverage on shares of Via Transportation in a research report on Tuesday, October 7th. They issued an “outperform” rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.91.

Via Transportation Stock Performance

The business’s 50 day moving average price is $28.69. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.17 and a current ratio of 5.17. The stock has a market cap of $1.73 billion and a price-to-earnings ratio of -31.17.

Via Transportation (NYSE:VIA) last issued its earnings results on Friday, November 14th. The company reported ($0.69) EPS 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 analysts’ expectations of $106.42 million.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Stephens Investment Management Group LLC acquired a new position in Via Transportation during the third quarter worth $4,787,000. Federated Hermes Inc. acquired a new position in shares of Via Transportation during the 3rd quarter worth about $9,616,000. Capital International Investors acquired a new position in shares of Via Transportation during the 3rd quarter worth about $26,444,000. Neo Ivy Capital Management purchased a new position in Via Transportation in the 3rd quarter valued at about $1,379,000. Finally, Orland Properties Ltd purchased a new stake in Via Transportation during the 3rd quarter worth approximately $731,000. 74.40% of the stock is owned by institutional investors and hedge funds.

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.