Via Transportation (NYSE:VIA) Shares Down 5.3% – What’s Next?

Via Transportation Inc. (NYSE:VIA) dropped 5.3% during trading on Wednesday. The stock traded as low as $41.56 and last traded at $42.27. Approximately 175,764 shares traded hands during trading, a decline of 78% from the average session volume of 791,388 shares. The stock had previously closed at $44.65.

Wall Street Analysts Forecast Growth

VIA has been the subject of a number of recent analyst reports. Deutsche Bank reiterated a “buy” rating and issued a $35.00 price target on shares of Via Transportation in a research report on Wednesday, October 7th. Citizens Jmp lifted their price target on Via Transportation from $37.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday. Guggenheim boosted their price objective on Via Transportation from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley upped their price objective on shares of Via Transportation from $33.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Oppenheimer raised their target price on shares of Via Transportation from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Via Transportation has a consensus rating of “Moderate Buy” and a consensus target price of $41.56.

Via Transportation Trading Down 1.8%

The firm’s 50-day simple moving average is $32.38 and its two-hundred day simple moving average is $21.79. The stock has a market capitalization of $3.42 billion, a PE ratio of -36.86 and a beta of 0.90.

Via Transportation (NYSE:VIA) last released its earnings results on Monday, November 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. The company had revenue of $143.53 million during the quarter. Via Transportation had a negative return on equity of 11.87% and a negative net margin of 15.30%. As a group, research analysts expect that Via Transportation Inc. will post -0.81 earnings per share for the current year.

Institutional Investors Weigh In On Via Transportation

Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in Via Transportation by 39.6% during 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 in the last quarter. Robeco Schweiz AG purchased a new stake in shares of Via Transportation in the third quarter worth approximately $7,674,000. Janus Henderson Group PLC boosted its holdings in shares of Via Transportation by 41.9% during the first 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. Renaissance Technologies LLC boosted its holdings in shares of Via Transportation by 222.4% during the first quarter. Renaissance Technologies LLC now owns 329,500 shares of the company’s stock worth $4,942,000 after purchasing an additional 227,300 shares during the period. Finally, Penn Capital Management Company LLC purchased a new position in Via Transportation during the third quarter valued at approximately $6,246,000. 74.40% of the stock is owned by hedge funds and other institutional investors.

Via Transportation Company Profile

Via Transportation provides technology that helps public agencies, schools and other organizations plan and operate transportation services. Its platform supports tasks such as trip booking, route planning, vehicle dispatch, rider communications and service analysis. The company’s software is used for a range of services, including on-demand public transit, paratransit, school transportation and employee shuttles. Via also works with transportation providers to coordinate vehicles and connect riders with available services.