Via Transportation (NYSE:VIA) Stock Price Down 6.9% – Here’s What Happened

Via Transportation Inc. (NYSE:VIA)’s share price traded down 6.9% during mid-day trading on Thursday . The company traded as low as $26.15 and last traded at $26.06. 113,294 shares were traded during mid-day trading, a decline of 70% from the average session volume of 377,768 shares. The stock had previously closed at $27.99.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VIA. Citizens Jmp started coverage on shares of Via Transportation in a research report on Tuesday, October 7th. They issued a “mkt outperform” rating and a $59.00 target price on the stock. Citigroup began coverage on Via Transportation in a report on Tuesday, October 7th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft set a $55.00 price target on Via Transportation and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Guggenheim initiated coverage on Via Transportation in a research note on Tuesday, October 7th. They issued a “buy” rating and a $58.00 price objective for the company. Finally, Wolfe Research began coverage on Via Transportation in a report on Tuesday, October 7th. They issued an “outperform” rating and a $60.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.64.

Via Transportation Trading Down 7.2%

The firm has a market cap of $2.10 billion and a price-to-earnings ratio of -37.62. The firm has a fifty day simple moving average of $36.52. The company has a quick ratio of 5.17, a current ratio of 5.17 and a debt-to-equity ratio of 0.04.

Via Transportation (NYSE:VIA) last announced its earnings results 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 business had revenue of $109.65 million for the quarter, compared to the consensus estimate of $106.42 million.

Institutional Trading of Via Transportation

A number of large investors have recently bought and sold shares of VIA. Bank of America Corp DE purchased a new stake in shares of Via Transportation in the third quarter valued at about $29,000. Assetmark Inc. purchased a new position in Via Transportation during the third quarter worth $36,000. PNC Financial Services Group Inc. acquired a new position in shares of Via Transportation in the third quarter valued at approximately $60,000. WINTON GROUP Ltd purchased a new position in Via Transportation during the third quarter worth about $219,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in Via Transportation in the third quarter valued at approximately $240,000. 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.