Via Transportation (NYSE:VIA) Shares Up 7.1% - Time to Buy?

Key Points

• Via Transportation shares rose 7.1% to approximately $24.97, with the stock trading above its 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive: 12 analysts rate the stock Buy, one rates it Hold, and one rates it Sell. The average price target is $37.80, while Wells Fargo recently raised its target to $32.
• Insiders bought 31,904 shares worth about $467,000 over the past 90 days, while institutional investors own 74.4% of the company. However, Via remains unprofitable, with a reported P/E ratio of -26.76.

Shares of Via Transportation Inc. (NYSE:VIA - Get Free Report) rose 7.1% during mid-day trading on Tuesday . The company traded as high as $24.98 and last traded at $24.9680. Approximately 462,975 shares traded hands during trading, a decline of 43% from the average daily volume of 817,145 shares. The stock had previously closed at $23.31.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company raised their price target on Via Transportation from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Friday. The Goldman Sachs Group reiterated a "buy" rating and issued a $24.00 target price on shares of Via Transportation in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft set a $25.00 price target on shares of Via Transportation in a research report on Wednesday, May 13th. Weiss Ratings raised shares of Via Transportation from a "sell (e+)" rating to a "sell (d)" rating in a research note on Wednesday, May 13th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $24.00 price objective on shares of Via Transportation in a report on Tuesday, May 12th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Via Transportation currently has an average rating of "Moderate Buy" and an average target price of $37.80.

Via Transportation Trading Up 7.1%

The firm has a market capitalization of $2.03 billion and a P/E ratio of -26.76. The business's fifty day moving average is $17.74 and its 200 day moving average is $17.40.

Insider Buying and Selling at Via Transportation

In related news, CEO Daniel Ramot acquired 3,571 shares of Via Transportation stock in a transaction dated Tuesday, June 16th. The stock was acquired at an average cost of $14.00 per share, with a total value of $49,994.00. Following the purchase, the chief executive officer directly owned 2,420,957 shares in the company, valued at $33,893,398. The trade was a 0.15% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nechemia Jacob Peres bought 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average price of $14.70 per share, for a total transaction of $367,500.00. Following the completion of the acquisition, the director directly owned 30,434 shares in the company, valued at approximately $447,379.80. The trade was a 460.07% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 31,904 shares of company stock worth $467,289 in the last ninety days. 39.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Via Transportation

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in Via Transportation in the 2nd quarter worth about $2,437,000. Essential Partners LLC purchased a new stake in Via Transportation during the first quarter valued at about $40,000. Bank of America Corp DE boosted its holdings in shares of Via Transportation by 489.2% in the first quarter. Bank of America Corp DE now owns 39,981 shares of the company's stock worth $600,000 after buying an additional 33,195 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Via Transportation by 41.9% in the first quarter. Janus Henderson Group PLC now owns 854,589 shares of the company's stock worth $12,819,000 after buying an additional 252,381 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Via Transportation in the first quarter worth approximately $214,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source