Via Transportation (NYSE:VIA) Stock Price Down 4.6% – What’s Next?

Via Transportation Inc. (NYSE:VIA)’s stock price traded down 4.6% during trading on Tuesday . The company traded as low as $18.36 and last traded at $18.13. 513,228 shares traded hands during trading, a decline of 18% from the average session volume of 629,336 shares. The stock had previously closed at $19.00.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VIA shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Via Transportation in a research note on Monday, December 29th. Oppenheimer decreased their target price on Via Transportation from $59.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Via Transportation in a research report on Monday, March 2nd. Morgan Stanley cut their price target on shares of Via Transportation from $41.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $28.00 price target on shares of Via Transportation in a research report on Monday, March 2nd. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

Via Transportation Stock Up 1.2%

The company has a 50 day moving average of $21.63. The stock has a market cap of $1.52 billion and a PE ratio of -27.15.

Via Transportation (NYSE:VIA) last issued its quarterly earnings results on Friday, February 27th. The company reported $999.00 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Via Transportation

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE acquired a new stake in Via Transportation in the third quarter valued at $29,000. Assetmark Inc. acquired a new position in shares of Via Transportation during the 3rd quarter worth about $36,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Via Transportation in the 4th quarter valued at about $34,000. PNC Financial Services Group Inc. acquired a new stake in shares of Via Transportation during the 3rd quarter worth about $60,000. Finally, Strs Ohio acquired a new stake in shares of Via Transportation during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 74.40% of the company’s stock.

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.