Via Transportation (NYSE:VIA) Stock Price Up 8.9% – What’s Next?

Via Transportation Inc. (NYSE:VIA)’s stock price shot up 8.9% on Monday . The stock traded as high as $19.22 and last traded at $19.27. 87,659 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 805,406 shares. The stock had previously closed at $17.69.

Wall Street Analyst Weigh In

Several analysts recently issued reports on VIA shares. Guggenheim reaffirmed a “buy” rating and set a $50.00 price objective on shares of Via Transportation in a research note on Wednesday, June 17th. Weiss Ratings raised shares of Via Transportation from a “sell (e+)” rating to a “sell (d)” rating in a research note on Wednesday, May 13th. The Goldman Sachs Group restated a “buy” rating and set a $24.00 target price on shares of Via Transportation in a report on Wednesday, May 13th. Oppenheimer restated an “outperform” rating and issued a $25.00 price target on shares of Via Transportation in a research report on Monday, June 1st. Finally, Wells Fargo & Company cut their price target on Via Transportation from $36.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.10.

Via Transportation Stock Performance

The firm’s 50-day moving average price is $16.36 and its two-hundred day moving average price is $17.73. The stock has a market cap of $1.60 billion and a price-to-earnings ratio of -21.06.

Insider Transactions at Via Transportation

In other news, Director Nechemia Jacob Peres purchased 25,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average price of $14.70 per share, with a total value of $367,500.00. Following the purchase, the director directly owned 30,434 shares in the company, valued at approximately $447,379.80. This represents a 460.07% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Daniel Ramot purchased 3,571 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were purchased at an average price of $14.00 per share, with a total value of $49,994.00. Following the acquisition, the chief executive officer directly owned 2,420,957 shares in the company, valued at approximately $33,893,398. The trade was a 0.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired 31,904 shares of company stock worth $467,289 over the last ninety days. 39.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Via Transportation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VIA. Bank of America Corp DE acquired a new position in shares of Via Transportation in the 3rd quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Via Transportation during the 4th quarter worth about $34,000. Strs Ohio purchased a new stake in Via Transportation in the 4th quarter valued at about $52,000. Assetmark Inc. raised its holdings in Via Transportation by 156.3% in the 4th quarter. Assetmark Inc. now owns 1,922 shares of the company’s stock valued at $56,000 after buying an additional 1,172 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Via Transportation by 75.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,194 shares of the company’s stock valued at $64,000 after buying an additional 944 shares during the last quarter. Institutional investors and hedge funds own 74.40% of the company’s stock.

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.