Via Transportation (NYSE:VIA) Stock Price Up 9.4% – Time to Buy?

Via Transportation Inc. (NYSE:VIA) was up 9.4% during mid-day trading on Friday . The stock traded as high as $16.68 and last traded at $16.81. Approximately 89,333 shares traded hands during trading, a decline of 88% from the average session volume of 744,247 shares. The stock had previously closed at $15.37.

Via Transportation News Summary

Here are the key news stories impacting Via Transportation this week:

• Positive Sentiment: Via-related public transit policy news could be supportive longer term: the U.S. Conference of Mayors adopted a transit modernization resolution that emphasizes technology-integrated, performance-driven service, which may align with Via’s mobility platform strategy. Article Title
• Neutral Sentiment: Multiple law firms, including Rosen, Pomerantz, Schall, Wolf Haldenstein, Bragar Eagel & Squire, Kahn Swick & Foti, Robbins Geller, and others, issued reminders or investor alerts about the same pending class action lawsuit and August 10 lead-plaintiff deadline. These notices mainly repeat the litigation timeline and investor-rights messaging. Article Title
• Negative Sentiment: The dominant headline risk is the filing and promotion of a securities fraud class action alleging violations of federal securities laws tied to Via’s IPO offering documents. Repeated legal reminders can increase investor concern, create overhang, and weigh on sentiment toward Via Transportation Inc. (NYSE: VIA). Article Title

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Via Transportation from $36.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft set a $25.00 price objective on Via Transportation in a research report on Wednesday, May 13th. Raymond James Financial set a $19.00 price target on shares of Via Transportation in a research report on Tuesday, May 12th. Guggenheim reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Via Transportation in a research note on Wednesday, June 17th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $24.00 target price on shares of Via Transportation in a research note on Tuesday, May 12th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.10.

Via Transportation Stock Performance

The firm has a market cap of $1.40 billion and a PE ratio of -18.54. The firm’s 50-day moving average price is $15.47 and its two-hundred day moving average price is $19.55.

Insider Transactions at Via Transportation

In other Via Transportation news, CEO Daniel Ramot purchased 3,571 shares of Via Transportation stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average price of $14.00 per share, for a total transaction of $49,994.00. Following the transaction, the chief executive officer directly owned 2,420,957 shares in the company, valued at $33,893,398. This trade represents a 0.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nechemia Jacob Peres purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average price of $14.70 per share, with a total value of $367,500.00. Following the purchase, the director owned 30,434 shares in the company, valued at $447,379.80. This trade represents a 460.07% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 31,904 shares of company stock valued at $467,289. Insiders own 39.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VIA. Essential Partners LLC purchased a new position in Via Transportation in the 1st quarter valued at $40,000. Bank of America Corp DE increased its holdings in Via Transportation by 489.2% in the first quarter. Bank of America Corp DE now owns 39,981 shares of the company’s stock valued at $600,000 after buying an additional 33,195 shares in the last quarter. Janus Henderson Group PLC increased its stake in Via Transportation by 41.9% in the 1st quarter. Janus Henderson Group PLC now owns 854,589 shares of the company’s stock valued at $12,819,000 after purchasing an additional 252,381 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Via Transportation during the 1st quarter worth $214,000. Finally, Weiss Asset Management LP acquired a new position in Via Transportation during the first quarter worth about $2,433,000. 74.40% of the stock is currently owned by hedge funds and other institutional investors.

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.