Volta (NYSE:VLTA) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Volta (NYSE:VLTAGet Rating) from a sell rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Volta Industries Inc. provides commerce-centric electric vehicle. Volta Industries Inc., formerly known as Tortoise Acquisition Corp. II, is based in OVERLAND PARK, KS. “

Other equities analysts have also issued reports about the company. The Goldman Sachs Group lowered Volta from a neutral rating to a sell rating and cut their target price for the company from $3.00 to $2.00 in a report on Tuesday, April 19th. DA Davidson downgraded Volta from a buy rating to a neutral rating and lowered their price target for the company from $13.00 to $5.00 in a research report on Monday, March 28th. Canaccord Genuity Group lowered their price target on Volta from $3.00 to $2.50 and set a hold rating on the stock in a research report on Tuesday, April 19th. Canaccord Genuity Group downgraded Volta from a buy rating to a hold rating and lowered their price target for the company from $10.00 to $3.00 in a research report on Monday, March 28th. Finally, Raymond James lowered their price target on Volta from $10.00 to $7.00 and set an outperform rating on the stock in a research report on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $7.94.

Shares of NYSE:VLTA opened at $2.12 on Wednesday. The company has a current ratio of 3.11, a quick ratio of 3.08 and a debt-to-equity ratio of 0.09. Volta has a 1 year low of $1.65 and a 1 year high of $14.34. The business has a fifty day simple moving average of $2.69 and a 200 day simple moving average of $3.91.

Volta (NYSE:VLTAGet Rating) last announced its quarterly earnings data on Friday, April 15th. The company reported ($0.77) earnings per share (EPS) for the quarter. The company had revenue of $12.14 million during the quarter. Analysts expect that Volta will post -0.65 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new position in shares of Volta in the first quarter valued at approximately $1,847,000. Charles Schwab Investment Management Inc. raised its stake in shares of Volta by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 608,063 shares of the company’s stock valued at $1,855,000 after acquiring an additional 14,725 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Volta in the first quarter valued at approximately $38,000. First Trust Advisors LP bought a new position in shares of Volta in the first quarter valued at approximately $3,248,000. Finally, Ergoteles LLC bought a new position in shares of Volta in the first quarter valued at approximately $212,000. Hedge funds and other institutional investors own 20.37% of the company’s stock.

About Volta (Get Rating)

Volta Inc operates a network of smart media-enabled charging stations for electric vehicles in the United States. As of June 30, 2021, it installed approximately 1,900 chargers across 26 territories and states. Volta Inc was founded in 2010 and is headquartered in San Francisco, California.

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