Via Transportation (NYSE:VIA) Trading 9.4% Higher – Still a Buy?

Via Transportation Inc. (NYSE:VIA)’s share price was up 9.4% during trading on Friday . The stock traded as high as $16.68 and last traded at $16.81. Approximately 89,333 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 744,247 shares. The stock had previously closed at $15.37.

Key Via Transportation News

Here are the key news stories impacting Via Transportation this week:

• Positive Sentiment: Via-related public transit policy news could be supportive longer term: the U.S. Conference of Mayors adopted a transit modernization resolution that emphasizes technology-integrated, performance-driven service, which may align with Via’s mobility platform strategy. Article Title
• Neutral Sentiment: Multiple law firms, including Rosen, Pomerantz, Schall, Wolf Haldenstein, Bragar Eagel & Squire, Kahn Swick & Foti, Robbins Geller, and others, issued reminders or investor alerts about the same pending class action lawsuit and August 10 lead-plaintiff deadline. These notices mainly repeat the litigation timeline and investor-rights messaging. Article Title
• Negative Sentiment: The dominant headline risk is the filing and promotion of a securities fraud class action alleging violations of federal securities laws tied to Via’s IPO offering documents. Repeated legal reminders can increase investor concern, create overhang, and weigh on sentiment toward Via Transportation Inc. (NYSE: VIA). Article Title

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $25.00 target price on shares of Via Transportation in a report on Wednesday, May 13th. Guggenheim restated a “buy” rating and set a $50.00 price target on shares of Via Transportation in a research report on Wednesday, June 17th. Weiss Ratings raised shares of Via Transportation from a “sell (e+)” rating to a “sell (d)” rating in a report on Wednesday, May 13th. The Goldman Sachs Group reiterated a “buy” rating and issued a $24.00 price objective on shares of Via Transportation in a research report on Wednesday, May 13th. Finally, Oppenheimer reissued an “outperform” rating and set a $25.00 target price on shares of Via Transportation in a research note on Monday, June 1st. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Via Transportation currently has an average rating of “Moderate Buy” and a consensus target price of $37.10.

Via Transportation Stock Performance

The stock has a market cap of $1.40 billion and a price-to-earnings ratio of -18.54. The business’s 50 day moving average is $15.47 and its 200-day moving average is $19.55.

Insider Transactions at Via Transportation

In other news, CEO Daniel Ramot acquired 3,571 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average cost of $14.00 per share, for a total transaction of $49,994.00. Following the acquisition, the chief executive officer owned 2,420,957 shares in the company, valued at approximately $33,893,398. This represents a 0.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nechemia Jacob Peres acquired 25,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $14.70 per share, with a total value of $367,500.00. Following the completion of the purchase, the director owned 30,434 shares in the company, valued at $447,379.80. This represents a 460.07% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 31,904 shares of company stock valued at $467,289 in the last three months. Corporate insiders own 39.28% of the company’s stock.

Institutional Trading of Via Transportation

A number of institutional investors have recently made changes to their positions in VIA. Bank of America Corp DE acquired a new position in Via Transportation in the 3rd quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in Via Transportation during the 4th quarter worth $34,000. Assetmark Inc. purchased a new stake in shares of Via Transportation during the third quarter worth $36,000. Essential Partners LLC purchased a new stake in shares of Via Transportation during the first quarter worth $40,000. Finally, Strs Ohio acquired a new stake in shares of Via Transportation in the fourth quarter valued at about $52,000. 74.40% of the stock is 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.