Via Transportation (NYSE:VIA) Shares Down 4.6% - Here's Why

Key Points

• Shares down 4.6% — Via traded as low as $18.36 and was last at $18.13 mid-day with ~513,228 shares changing hands, about 18% below its average daily volume.
• Analysts remain mostly constructive (12 Buys, 1 Hold, 1 Sell) with a consensus price target of $49, though several firms including Morgan Stanley, Oppenheimer and Guggenheim have recently cut their targets.
• Key fundamentals show a market capitalization of $1.45 billion, a negative P/E (-26.11), strong liquidity (current ratio ~4.98) and high institutional ownership (~74.4%).

Via Transportation Inc. (NYSE:VIA - Get Free Report) was down 4.6% during mid-day trading on Tuesday . The stock traded as low as $18.36 and last traded at $18.13. Approximately 513,228 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 629,336 shares. The stock had previously closed at $19.00.

Wall Street Analyst Weigh In

A number of analysts have commented on VIA shares. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Via Transportation in a research report on Monday, December 29th. Morgan Stanley cut their price objective on Via Transportation from $41.00 to $28.00 and set an "overweight" rating on the stock in a report on Monday, March 2nd. Oppenheimer reduced their price objective on Via Transportation from $59.00 to $40.00 and set an "outperform" rating for the company in a research note on Thursday, January 22nd. Noble Financial lowered Via Transportation to a "buy" rating in a research report on Tuesday, December 16th. Finally, Guggenheim cut their price target on shares of Via Transportation from $58.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, March 2nd. Twelve equities 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $49.00.

Via Transportation Price Performance

The business's fifty day simple moving average is $22.06. The firm has a market capitalization of $1.45 billion and a P/E ratio of -26.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.98 and a quick ratio of 5.17.

Via Transportation (NYSE:VIA - Get Free Report) last released its quarterly earnings data on Friday, February 27th. The company reported $999.00 earnings per share for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE purchased a new stake in Via Transportation in the 3rd quarter worth approximately $29,000. Assetmark Inc. acquired a new position in shares of Via Transportation in the 3rd quarter valued at $36,000. PNC Financial Services Group Inc. grew its position in Via Transportation by 75.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,194 shares of the company's stock valued at $64,000 after buying an additional 944 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Via Transportation in the fourth quarter valued at $34,000. Finally, Squarepoint Ops LLC raised its position in shares of Via Transportation by 9.0% in the fourth quarter. Squarepoint Ops LLC now owns 16,343 shares of the company's stock worth $474,000 after acquiring 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.

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