Via Transportation (NYSE:VIA) Stock Price Up 5.6% – Here’s Why

Via Transportation Inc. (NYSE:VIA) rose 5.6% during mid-day trading on Thursday . The stock traded as high as $14.69 and last traded at $14.3550. Approximately 108,376 shares changed hands during trading, a decline of 86% from the average daily volume of 751,092 shares. The stock had previously closed at $13.59.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VIA. Noble Financial lowered Via Transportation to a “buy” rating in a research report on Tuesday, December 16th. Morgan Stanley dropped their price target on Via Transportation from $41.00 to $28.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Guggenheim reduced their price objective on Via Transportation from $58.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Oppenheimer decreased their price objective on shares of Via Transportation from $59.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, January 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Via Transportation in a report on Monday, March 2nd. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Via Transportation Stock Down 3.9%

The company has a market cap of $1.11 billion and a P/E ratio of -19.80. The stock’s 50 day moving average is $18.86.

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

Institutional Investors Weigh In On Via Transportation

Hedge funds have recently added to or reduced their stakes in the stock. Stephens Investment Management Group LLC bought a new stake in Via Transportation in the third quarter valued at $4,787,000. Federated Hermes Inc. bought a new position in shares of Via Transportation during the third quarter worth about $9,616,000. Principal Financial Group Inc. acquired a new stake in shares of Via Transportation in the 3rd quarter worth about $14,394,000. Compagnie Lombard Odier SCmA bought a new stake in Via Transportation in the 3rd quarter valued at about $240,000. Finally, Assetmark Inc. bought a new stake in Via Transportation in the 3rd quarter valued at about $36,000. 74.40% of the stock is currently owned by institutional investors.

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.