Via Transportation (NYSE:VIA) Shares Down 6.9% – Time to Sell?

Via Transportation Inc. (NYSE:VIA)’s stock price fell 6.9% during mid-day trading on Thursday . The stock traded as low as $26.15 and last traded at $26.06. 113,294 shares were traded during 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

VIA has been the topic of a number of research reports. JMP Securities began coverage on Via Transportation in a report on Tuesday, October 7th. They issued a “market outperform” rating and a $59.00 target price on the stock. Wells Fargo & Company started coverage on Via Transportation in a report on Tuesday, October 7th. They issued an “overweight” rating and a $60.00 target price for the company. Oppenheimer set a $59.00 price objective on Via Transportation and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Morgan Stanley began coverage on shares of Via Transportation in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $53.00 target price on the stock. Finally, William Blair began coverage on shares of Via Transportation in a report on Tuesday, October 7th. They issued an “outperform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.64.

Via Transportation Trading Down 1.5%

The stock’s fifty day simple moving average is $35.42. The firm has a market capitalization of $2.07 billion and a PE ratio of -37.07. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.17 and a current ratio of 5.17.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE acquired a new stake in shares of Via Transportation in the 3rd quarter valued at $29,000. Assetmark Inc. acquired a new position in Via Transportation in the third quarter valued at about $36,000. PNC Financial Services Group Inc. acquired a new stake in shares of Via Transportation during the third quarter worth approximately $60,000. WINTON GROUP Ltd acquired a new stake in shares of Via Transportation during the third quarter worth approximately $219,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of Via Transportation in the 3rd quarter worth approximately $240,000. 74.40% of the stock is currently owned by institutional investors and hedge funds.

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.