Via Transportation (NYSE:VIA) Shares Down 4.6% – Should You Sell?

Via Transportation Inc. (NYSE:VIA)’s share price fell 4.6% on Tuesday . The stock traded as low as $18.36 and last traded at $18.13. 513,228 shares were traded during mid-day trading, a decline of 18% from the average session volume of 629,336 shares. The stock had previously closed at $19.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on VIA shares. Morgan Stanley lowered 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. Oppenheimer reduced their target price on Via Transportation from $59.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, January 22nd. Noble Financial lowered Via Transportation to a “buy” rating in a research report on Tuesday, December 16th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Via Transportation in a research note on Monday, March 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Via Transportation in a research report on Monday, December 29th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

Via Transportation Stock Performance

The stock has a 50 day moving average of $22.06. The stock has a market cap of $1.45 billion and a P/E ratio of -26.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.98 and a quick ratio of 5.17.

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

Institutional Investors Weigh In On Via Transportation

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE acquired a new position in Via Transportation in the 3rd quarter valued at about $29,000. Assetmark Inc. acquired a new stake in shares of Via Transportation during the 3rd quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Via Transportation during the 4th quarter valued at approximately $34,000. PNC Financial Services Group Inc. purchased a new stake in shares of Via Transportation during the 3rd quarter valued at approximately $60,000. Finally, Strs Ohio acquired a new position in Via Transportation in the fourth quarter valued at approximately $52,000. 74.40% of the stock is currently owned by institutional investors and hedge funds.

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.