Via Transportation (NYSE:VIA) Trading Up 4.2% - Here's What Happened

Key Points

• Via Transportation shares rose 4.2% to $29.55 in mid-day trading, although volume was 84% below the stock’s average daily level.
• Analyst sentiment remains positive: 12 analysts rate the stock a Buy, with a consensus rating of “Moderate Buy” and an average price target of $38.70. Several firms recently raised their targets, including Morgan Stanley to $33 and Wells Fargo to $32.
• Via exceeded quarterly earnings expectations, reporting a loss of $0.01 per share versus the projected $0.20 loss, on revenue of $135.71 million. Despite the improvement, the company remains unprofitable, with a negative net margin of 20.04%.

Via Transportation Inc. (NYSE:VIA - Get Free Report)'s stock price traded up 4.2% on Wednesday . The company traded as high as $29.14 and last traded at $29.55. 132,388 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 807,569 shares. The stock had previously closed at $28.37.

Analyst Upgrades and Downgrades

VIA has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of Via Transportation from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Morgan Stanley increased their price objective on shares of Via Transportation from $24.00 to $33.00 and gave the company an "overweight" rating in a research note on Monday. Oppenheimer lifted their price objective on shares of Via Transportation from $25.00 to $30.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Guggenheim restated a "buy" rating and set a $50.00 target price on shares of Via Transportation in a report on Wednesday, June 17th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Via Transportation in a research report on Monday, September 14th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.70.

Via Transportation Stock Performance

The business's fifty day moving average price is $24.23 and its two-hundred day moving average price is $18.88. The firm has a market capitalization of $2.42 billion and a P/E ratio of -26.01.

Via Transportation (NYSE:VIA - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.19. Via Transportation had a negative net margin of 20.04% and a negative return on equity of 12.33%. The company had revenue of $135.71 million during the quarter. Sell-side analysts predict that Via Transportation Inc. will post -0.8 earnings per share for the current year.

Insiders Place Their Bets

In other Via Transportation news, Director Nechemia Peres bought 10,080 shares of Via Transportation stock in a transaction that occurred on Tuesday, August 11th. The shares were bought at an average cost of $24.74 per share, with a total value of $249,379.20. Following the transaction, the director directly owned 40,514 shares of the company's stock, valued at approximately $1,002,316.36. This represents a 33.12% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 39.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Via Transportation

Several hedge funds have recently modified their holdings of VIA. Caitong International Asset Management Co. Ltd purchased a new position in shares of Via Transportation in the fourth quarter worth about $49,000. Essential Partners LLC acquired a new position in shares of Via Transportation in the 1st quarter valued at about $40,000. Assetmark Inc. grew its holdings in Via Transportation by 89.0% during the first quarter. Assetmark Inc. now owns 3,632 shares of the company's stock worth $54,000 after acquiring an additional 1,710 shares during the period. Arizona State Retirement System acquired a new position in Via Transportation in the second quarter valued at approximately $184,000. Finally, Levin Capital Strategies L.P. purchased a new stake in Via Transportation during the first quarter worth $152,000. Institutional investors and hedge funds own 74.40% of the company's stock.

About Via Transportation

Via Transportation is a transportation technology company that develops software and operates services for on-demand public transportation. Its platform enables transit agencies, municipalities, universities, corporations and other organizations to plan, manage and optimize flexible transportation networks.

The company's products and services support microtransit, paratransit, school transportation, corporate shuttles and other shared mobility programs. Via's technology can help match riders with vehicles, optimize routes, manage bookings and payments, and provide tools for dispatching, reporting and fleet operations.

Founded in 2012 by Daniel Ramot and Oren Shoval, Via serves transportation partners in multiple countries and works with public agencies and private organizations to complement fixed-route transit.

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