Via Transportation (NYSE:VIA) Stock Price Down 6.1% - Here's Why

Key Points

• Shares fell 6.1% on Tuesday to as low as $13.43 (last at $13.82) on thin volume — 92,541 shares traded, down 88% from the average session.
• A string of analyst moves cut price targets (e.g., Guggenheim to $50, Morgan Stanley to $28) but with 12 Buys, 1 Hold and 1 Sell the stock carries a consensus "Moderate Buy" and a consensus price target of $49.00.
• Via has a market capitalization of $1.08 billion, a negative P/E (‑19.19), and high institutional ownership (about 74.4%), after several large funds established or increased positions.

Shares of Via Transportation Inc. (NYSE:VIA - Get Free Report) fell 6.1% on Tuesday . The company traded as low as $13.43 and last traded at $13.8230. 92,541 shares traded 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.

Analysts Set New Price Targets

A number of research firms recently issued reports on VIA. Guggenheim decreased their price target on shares of Via Transportation from $58.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, March 2nd. Morgan Stanley lowered their price target on shares of Via Transportation from $41.00 to $28.00 and set an "overweight" rating for the company in a report on Monday, March 2nd. The Goldman Sachs Group reiterated a "buy" rating and issued a $28.00 price target on shares of Via Transportation in a research report on Monday, March 2nd. Weiss Ratings reiterated a "sell (d)" rating on shares of Via Transportation in a report on Monday, December 29th. Finally, Needham & Company LLC reissued a "buy" rating and set a $55.00 target price on shares of Via Transportation in a research report on Monday, March 2nd. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Via Transportation presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.00.

Via Transportation Trading Down 10.0%

The company has a market capitalization of $1.08 billion and a PE ratio of -19.19. The firm's 50 day moving average is $19.72.

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

Institutional Inflows and Outflows

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

About Via Transportation

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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