Via Transportation (NYSE:VIA) Stock Price Down 6.9% – Time to Sell?

Via Transportation Inc. (NYSE:VIA) shares fell 6.9% during mid-day trading on Thursday . The stock traded as low as $26.15 and last traded at $26.06. 113,294 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 377,768 shares. The stock had previously closed at $27.99.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on VIA shares. Noble Financial downgraded Via Transportation to a “buy” rating in a report on Tuesday, December 16th. Needham & Company LLC restated a “buy” rating on shares of Via Transportation in a report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of Via Transportation and gave the company a “buy” rating in a report on Tuesday, October 7th. Wall Street Zen raised shares of Via Transportation to a “hold” rating in a research report on Wednesday, September 24th. Finally, Wells Fargo & Company began coverage on shares of Via Transportation in a research note on Tuesday, October 7th. They issued an “overweight” rating and a $60.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Via Transportation presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.64.

Via Transportation Trading Down 7.2%

The firm has a market cap of $2.10 billion and a P/E ratio of -37.62. The stock’s fifty day moving average price is $36.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.17 and a current ratio of 5.17.

Via Transportation (NYSE:VIA) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.04). The company had revenue of $109.65 million for the quarter, compared to the consensus estimate of $106.42 million.

Institutional Investors Weigh In On Via Transportation

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in Via Transportation in the third quarter worth about $93,662,000. Koch Inc. purchased a new position in shares of Via Transportation in the 3rd quarter valued at about $81,747,000. Capital Research Global Investors acquired a new position in Via Transportation in the 3rd quarter worth about $40,536,000. Vanguard Group Inc. purchased a new position in Via Transportation during the third quarter worth approximately $39,965,000. Finally, Capital International Investors acquired a new stake in Via Transportation in the third quarter valued at approximately $26,444,000. Institutional investors 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.