Via Transportation (NYSE:VIA) Stock Price Down 8.2% – Should You Sell?

Via Transportation Inc. (NYSE:VIA) shares dropped 8.2% during trading on Wednesday . The company traded as low as $19.30 and last traded at $19.13. Approximately 37,619 shares traded hands during trading, a decline of 93% from the average daily volume of 510,235 shares. The stock had previously closed at $20.85.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VIA. Oppenheimer reduced their price target on Via Transportation from $59.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, January 22nd. Needham & Company LLC reissued a “buy” rating on shares of Via Transportation in a research note on Tuesday, December 16th. Weiss Ratings restated a “sell (d)” rating on shares of Via Transportation in a research report on Monday, December 29th. Morgan Stanley upgraded shares of Via Transportation from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 20th. Finally, The Goldman Sachs Group raised shares of Via Transportation from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 13th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.91.

Via Transportation Trading Down 9.5%

The company has a current ratio of 5.17, a quick ratio of 5.17 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average is $27.37. The stock has a market cap of $1.53 billion and a PE ratio of -27.34.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Research Global Investors raised its stake in Via Transportation by 153.9% in the 4th quarter. Capital Research Global Investors now owns 2,140,200 shares of the company’s stock valued at $62,087,000 after acquiring an additional 1,297,114 shares during the period. Norges Bank acquired a new position in shares of Via Transportation in the fourth quarter valued at $12,329,000. Zweig DiMenna Associates LLC bought a new position in Via Transportation in the 4th quarter valued at about $3,777,000. Geode Capital Management LLC acquired a new stake in Via Transportation during the 4th quarter worth approximately $6,956,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Via Transportation by 75.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,194 shares of the company’s stock worth $64,000 after buying an additional 944 shares in the last quarter. 74.40% of the stock is currently 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.