Via Transportation (NYSE:VIA) Sets New 52-Week Low Following Analyst Downgrade

Via Transportation Inc. (NYSE:VIA) shares hit a new 52-week low on Thursday after Wells Fargo & Company lowered their price target on the stock from $36.00 to $30.00. Wells Fargo & Company currently has an overweight rating on the stock. Via Transportation traded as low as $13.07 and last traded at $13.1750, with a volume of 31884 shares. The stock had previously closed at $13.31.

A number of other analysts have also recently commented on VIA. Guggenheim reduced their target price on shares of Via Transportation from $58.00 to $50.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Via Transportation in a report on Monday, March 2nd. Raymond James Financial set a $19.00 price target on shares of Via Transportation in a report on Tuesday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $24.00 price target on shares of Via Transportation in a research note on Wednesday. Finally, Morgan Stanley reissued an “overweight” rating and issued a $24.00 price objective on shares of Via Transportation in a research note on Tuesday. Twelve 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.60.

Institutional Investors Weigh In On Via Transportation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VIA. Ion Asset Management Ltd. purchased a new position in Via Transportation in the third quarter valued at $4,808,000. Koch Inc. purchased a new position in shares of Via Transportation in the 3rd quarter valued at approximately $81,747,000. Principal Financial Group Inc. purchased a new position in Via Transportation during the third quarter worth about $14,394,000. Stephens Investment Management Group LLC acquired a new position in Via Transportation during the third quarter worth $4,787,000. Finally, Federated Hermes Inc. acquired a new position in Via Transportation during the third quarter worth about $9,616,000. Institutional investors and hedge funds own 74.40% of the company’s stock.

Via Transportation Price Performance

The business has a 50-day moving average price of $16.07 and a two-hundred day moving average price of $25.69. The firm has a market cap of $1.07 billion and a PE ratio of -19.17.

Via Transportation (NYSE:VIA) last posted its earnings results on Friday, February 27th. The company reported $999.00 earnings per share (EPS) for the quarter. Equities analysts expect that Via Transportation Inc. will post -0.77 earnings per share for the current fiscal year.

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.