Via Transportation (NYSE:VIA) Hits New 12-Month Low – Here’s What Happened

Via Transportation Inc. (NYSE:VIA) hit a new 52-week low during trading on Monday . The company traded as low as $15.80 and last traded at $16.1610, with a volume of 1029852 shares trading hands. The stock had previously closed at $16.10.

Analysts Set New Price Targets

VIA has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Via Transportation in a report on Monday, December 29th. Noble Financial downgraded shares of Via Transportation to a “buy” rating in a research note on Tuesday, December 16th. The Goldman Sachs Group upgraded shares of Via Transportation from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 13th. Needham & Company LLC reiterated a “buy” rating on shares of Via Transportation in a research note on Tuesday, December 16th. Finally, Oppenheimer lowered their target price 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. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.50.

Via Transportation Stock Down 4.0%

The company has a debt-to-equity ratio of 0.04, a current ratio of 5.17 and a quick ratio of 5.17. The company has a market cap of $1.29 billion and a price-to-earnings ratio of -23.01. The stock’s 50-day moving average is $24.98.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new position in shares of Via Transportation in the third quarter worth about $29,000. Assetmark Inc. bought a new position in Via Transportation during the 3rd quarter worth approximately $36,000. PNC Financial Services Group Inc. increased its stake in Via Transportation by 75.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,194 shares of the company’s stock worth $64,000 after purchasing an additional 944 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Via Transportation in the fourth quarter valued at approximately $34,000. Finally, Squarepoint Ops LLC boosted its stake in shares of Via Transportation by 9.0% during the fourth quarter. Squarepoint Ops LLC now owns 16,343 shares of the company’s stock valued at $474,000 after purchasing an additional 1,343 shares during the period. 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. Buses still follow fixed routes and schedules planned years, if not decades ago, regardless of actual demand for their service.