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

Via Transportation Inc. (NYSE:VIA)’s share price traded down 6.1% on Tuesday . The company traded as low as $13.43 and last traded at $13.8230. 92,541 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 751,026 shares. The stock had previously closed at $14.72.

Analyst Ratings Changes

VIA has been the subject of several recent analyst reports. Noble Financial lowered Via Transportation to a “buy” rating in a research report on Tuesday, December 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Via Transportation in a research note on Monday, December 29th. Guggenheim dropped their price objective on Via Transportation from $58.00 to $50.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Morgan Stanley reduced their target price on Via Transportation from $41.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Finally, Oppenheimer decreased their target price on Via Transportation from $59.00 to $40.00 and set an “outperform” rating for the company in a research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Via Transportation Trading Up 0.7%

The stock has a 50 day moving average of $19.24. The stock has a market capitalization of $1.10 billion and a P/E ratio of -19.61.

Via Transportation (NYSE:VIA) last issued its earnings results on Friday, February 27th. The company reported $999.00 earnings per share for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VIA. Stephens Investment Management Group LLC bought a new position in Via Transportation during the 3rd quarter worth about $4,787,000. Federated Hermes Inc. purchased a new stake in shares of Via Transportation in the 3rd quarter worth approximately $9,616,000. Principal Financial Group Inc. purchased a new stake in shares of Via Transportation in the 3rd quarter worth approximately $14,394,000. Compagnie Lombard Odier SCmA bought a new position in shares of Via Transportation during the third quarter valued at approximately $240,000. Finally, Assetmark Inc. purchased a new position in Via Transportation during the third quarter valued at approximately $36,000. 74.40% of the stock is currently owned by 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.