Via Transportation (NYSE:VIA) Shares Climb 4.2% – Here’s Why

Via Transportation Inc. (NYSE:VIA) shares were up 4.2% during trading on Wednesday. The company traded as high as $29.14 and last traded at $29.55. Approximately 132,388 shares traded hands during trading, a decline of 84% from the average session volume of 807,569 shares. The stock had previously closed at $28.37.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Via Transportation from $24.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday. Weiss Ratings upgraded shares of Via Transportation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 4th. Guggenheim restated a “buy” rating and set a $50.00 price objective on shares of Via Transportation in a research report on Wednesday, June 17th. Citigroup reaffirmed a “market outperform” rating on shares of Via Transportation in a research note on Monday, September 14th. Finally, Oppenheimer boosted their price target on Via Transportation from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.70.

Via Transportation Price Performance

The firm has a market cap of $2.44 billion and a price-to-earnings ratio of -26.24. The business’s 50-day moving average price is $24.68 and its two-hundred day moving average price is $19.03.

Via Transportation (NYSE:VIA) last announced its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.19. Via Transportation had a negative net margin of 20.04% and a negative return on equity of 12.33%. The firm had revenue of $135.71 million for the quarter. As a group, sell-side analysts forecast that Via Transportation Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Nechemia Peres acquired 10,080 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were bought at an average cost of $24.74 per share, for a total transaction of $249,379.20. Following the acquisition, the director directly owned 40,514 shares in the company, valued at $1,002,316.36. This trade represents a 33.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 39.28% of the stock is owned by corporate insiders.

Institutional Trading of Via Transportation

Institutional investors have recently modified their holdings of the company. Capital Research Global Investors raised its holdings in Via Transportation by 153.9% in the fourth quarter. Capital Research Global Investors now owns 2,140,200 shares of the company’s stock valued at $62,087,000 after buying an additional 1,297,114 shares during the period. Wellington Management Group LLP increased its position in shares of Via Transportation by 0.3% in the second quarter. Wellington Management Group LLP now owns 2,486,601 shares of the company’s stock worth $45,107,000 after acquiring an additional 6,395 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Via Transportation by 39.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,086,438 shares of the company’s stock valued at $16,297,000 after acquiring an additional 308,283 shares during the period. Summit Partners Public Asset Management LLC purchased a new stake in Via Transportation during the 4th quarter worth $14,233,000. Finally, Janus Henderson Group PLC boosted its position in Via Transportation by 41.9% during the 1st quarter. Janus Henderson Group PLC now owns 854,589 shares of the company’s stock worth $12,819,000 after purchasing an additional 252,381 shares during the period. Hedge funds and other institutional investors own 74.40% of the company’s stock.

About Via Transportation

Via Transportation is a transportation technology company that develops software and operates services for on-demand public transportation. Its platform enables transit agencies, municipalities, universities, corporations and other organizations to plan, manage and optimize flexible transportation networks.

The company’s products and services support microtransit, paratransit, school transportation, corporate shuttles and other shared mobility programs. Via’s technology can help match riders with vehicles, optimize routes, manage bookings and payments, and provide tools for dispatching, reporting and fleet operations.

Founded in 2012 by Daniel Ramot and Oren Shoval, Via serves transportation partners in multiple countries and works with public agencies and private organizations to complement fixed-route transit.