Via Transportation (NYSE:VIA) Stock Price Up 3% – Should You Buy?

Shares of Via Transportation Inc. (NYSE:VIA) were up 3% during mid-day trading on Wednesday . The stock traded as high as $30.26 and last traded at $30.3770. Approximately 69,903 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 386,964 shares. The stock had previously closed at $29.48.

Wall Street Analyst Weigh In

VIA has been the topic of several analyst reports. Wells Fargo & Company initiated coverage on Via Transportation in a research note on Tuesday, October 7th. They issued an “overweight” rating and a $60.00 target price on the stock. William Blair assumed coverage on Via Transportation in a report on Tuesday, October 7th. They set an “outperform” rating for the company. Citizens Jmp began coverage on shares of Via Transportation in a research note on Tuesday, October 7th. They issued a “mkt outperform” rating and a $59.00 price objective on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Via Transportation in a research report on Monday. Finally, Morgan Stanley assumed coverage on shares of Via Transportation in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $53.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.64.

Via Transportation Stock Up 0.7%

The business’s 50 day simple moving average is $39.27.

Via Transportation (NYSE:VIA) last released its quarterly earnings data 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.

Hedge Funds Weigh In On Via Transportation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VIA. Bank of America Corp DE bought a new stake in Via Transportation in the third quarter worth about $29,000. Assetmark Inc. acquired a new position in shares of Via Transportation in the 3rd quarter worth approximately $36,000. PNC Financial Services Group Inc. bought a new stake in shares of Via Transportation in the 3rd quarter worth approximately $60,000. WINTON GROUP Ltd acquired a new stake in Via Transportation during the third quarter valued at approximately $219,000. Finally, Legal & General Group Plc bought a new stake in Via Transportation during the third quarter worth approximately $239,000. 74.40% of the stock is owned by institutional investors.

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.