Via Transportation (NYSE:VIA) Reaches New 1-Year Low on Analyst Downgrade

Via Transportation Inc. (NYSE:VIA)’s stock price reached a new 52-week low during trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $36.00 to $30.00. Wells Fargo & Company currently has an overweight rating on the stock. Via Transportation traded as low as $13.07 and last traded at $13.1750, with a volume of 31884 shares traded. The stock had previously closed at $13.31.

Several other brokerages also recently issued reports on VIA. Oppenheimer reduced their price objective on Via Transportation from $59.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, January 22nd. Raymond James Financial set a $19.00 target price on Via Transportation in a report on Tuesday. Guggenheim cut their price target on shares of Via Transportation from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $24.00 target price on shares of Via Transportation in a report on Wednesday. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $24.00 target price on shares of Via Transportation in a research note on Tuesday. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.60.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new stake in shares of Via Transportation during the third quarter valued at approximately $29,000. Assetmark Inc. bought a new stake in shares of Via Transportation in the 3rd quarter valued at $36,000. PNC Financial Services Group Inc. lifted its holdings in shares of Via Transportation by 75.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,194 shares of the company’s stock valued at $64,000 after purchasing an additional 944 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Via Transportation in the fourth quarter valued at approximately $34,000. Finally, Squarepoint Ops LLC boosted its stake in Via Transportation by 9.0% in the 4th quarter. Squarepoint Ops LLC now owns 16,343 shares of the company’s stock worth $474,000 after purchasing an additional 1,343 shares during the period. Institutional investors and hedge funds own 74.40% of the company’s stock.

Via Transportation Stock Performance

The business has a 50-day simple moving average of $16.07 and a two-hundred day simple moving average of $25.69. The stock has a market cap of $1.07 billion and a price-to-earnings ratio of -19.17.

Via Transportation (NYSE:VIA) last released its earnings results on Friday, February 27th. The company reported $999.00 earnings per share (EPS) for the quarter. On average, analysts expect that Via Transportation Inc. will post -0.77 earnings per share for the current fiscal year.

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.