Via Transportation (NYSE:VIA) Shares Down 7.3% - Here's Why

Key Points

• Shares of Via Transportation slid about 7.3% on Friday to roughly $14.43 (intraday low $14.39) on lighter-than-usual volume of 345,140 shares, about 52% below the average session volume.
• Analysts remain generally bullish — the stock carries a consensus rating of Moderate Buy with an average price target of $49, though some firms have trimmed targets and opinions vary.
• Major institutional investors have built sizable positions (including Wellington, Koch, Capital Research and Vanguard), and institutions now own about 74.4% of the company’s shares.

Via Transportation Inc. (NYSE:VIA - Get Free Report) shares fell 7.3% during trading on Friday . The company traded as low as $14.39 and last traded at $14.4250. 345,140 shares were traded during mid-day trading, a decline of 52% from the average session volume of 719,457 shares. The stock had previously closed at $15.56.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $55.00 target price on shares of Via Transportation in a research note on Monday, March 2nd. Noble Financial downgraded Via Transportation to a "buy" rating in a research note on Tuesday, December 16th. The Goldman Sachs Group reissued a "buy" rating and set a $28.00 target price on shares of Via Transportation in a report on Monday, March 2nd. Oppenheimer cut their price target on Via Transportation from $59.00 to $40.00 and set an "outperform" rating for the company in a report on Thursday, January 22nd. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Via Transportation in a report on Monday, December 29th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Via Transportation presently has a consensus rating of "Moderate Buy" and an average price target of $49.00.

Via Transportation Stock Down 7.0%

The stock has a 50 day moving average price of $17.12 and a two-hundred day moving average price of $30.57. The company has a market cap of $1.17 billion and a P/E ratio of -21.06.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP acquired a new position in shares of Via Transportation during the 3rd quarter worth $93,662,000. Koch Inc. bought a new position in shares of Via Transportation in the 3rd quarter worth about $81,747,000. Capital Research Global Investors grew its position in shares of Via Transportation by 153.9% during the 4th quarter. Capital Research Global Investors now owns 2,140,200 shares of the company's stock worth $62,087,000 after buying an additional 1,297,114 shares during the period. Vanguard Group Inc. acquired a new position in shares of Via Transportation during the third quarter valued at about $39,965,000. Finally, Capital International Investors acquired a new stake in Via Transportation in the third quarter valued at approximately $26,444,000. Institutional investors own 74.40% of the company's stock.

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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