Via Transportation (NYSE:VIA) Stock Price Down 4.3% – Here’s What Happened

Via Transportation Inc. (NYSE:VIA) was down 4.3% during trading on Monday . The stock traded as low as $15.84 and last traded at $15.96. Approximately 265,222 shares traded hands during trading, a decline of 60% from the average daily volume of 665,596 shares. The stock had previously closed at $16.68.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VIA shares. Noble Financial cut Via Transportation to a “buy” rating in a research note on Tuesday, December 16th. Oppenheimer decreased their price objective on shares of Via Transportation from $59.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, January 22nd. Morgan Stanley cut their target price on shares of Via Transportation from $41.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Via Transportation in a research note on Monday, December 29th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $28.00 price objective 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.00.

Via Transportation Trading Down 12.4%

The firm has a market cap of $1.19 billion and a price-to-earnings ratio of -21.27. The stock has a 50 day moving average price of $21.20.

Via Transportation (NYSE:VIA) last announced its 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ion Asset Management Ltd. acquired a new position in shares of Via Transportation during the third quarter worth $4,808,000. Koch Inc. acquired a new stake in shares of Via Transportation during the 3rd quarter valued at $81,747,000. Principal Financial Group Inc. acquired a new position in Via Transportation in the 3rd quarter worth about $14,394,000. Stephens Investment Management Group LLC acquired a new stake in shares of Via Transportation during the third quarter valued at about $4,787,000. Finally, Federated Hermes Inc. bought a new stake in shares of Via Transportation during the third quarter worth about $9,616,000. Institutional investors 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.