Via Transportation (NYSE:VIA) Stock Price Down 6.1% – Here’s Why

Shares of Via Transportation Inc. (NYSE:VIA) dropped 6.1% on Monday . The company traded as low as $29.99 and last traded at $30.3250. Approximately 105,948 shares traded hands during trading, a decline of 64% from the average daily volume of 293,330 shares. The stock had previously closed at $32.29.

Analyst Ratings Changes

Several brokerages have commented on VIA. Citigroup started coverage on shares of Via Transportation in a research report on Tuesday, October 7th. They set an “outperform” rating on the stock. Wells Fargo & Company began coverage on shares of Via Transportation in a report on Tuesday, October 7th. They issued an “overweight” rating and a $60.00 target price for the company. JMP Securities initiated coverage on Via Transportation in a report on Tuesday, October 7th. They issued a “market outperform” rating and a $59.00 price target on the stock. Zacks Research upgraded Via Transportation to a “hold” rating in a research report on Wednesday, October 8th. Finally, Wolfe Research began coverage on Via Transportation in a report on Tuesday, October 7th. They issued an “outperform” rating and a $60.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Via Transportation currently has a consensus rating of “Moderate Buy” and an average price target of $56.64.

Via Transportation Price Performance

The company has a fifty day simple moving average of $43.84.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Capital International Investors acquired a new stake in shares of Via Transportation during the 3rd quarter worth $26,444,000. Neo Ivy Capital Management acquired a new stake in Via Transportation during the third quarter worth about $1,379,000. Orland Properties Ltd purchased a new position in shares of Via Transportation in the 3rd quarter worth about $731,000. Monashee Investment Management LLC purchased a new stake in shares of Via Transportation during the 3rd quarter worth about $3,366,000. Finally, Koch Inc. acquired a new stake in Via Transportation during the 3rd quarter worth approximately $81,747,000. 74.40% of the stock is currently owned by hedge funds and other institutional investors.

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.