Via Transportation (NYSE:VIA) Trading Up 11.1% – Here’s What Happened

Shares of Via Transportation Inc. (NYSE:VIA) traded up 11.1% on Monday . The company traded as high as $16.82 and last traded at $16.9150. 432,971 shares traded hands during trading, a decline of 37% from the average session volume of 690,299 shares. The stock had previously closed at $15.23.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Via Transportation in a research report on Monday. Raymond James Financial set a $19.00 price objective on Via Transportation in a research report on Tuesday, May 12th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of Via Transportation in a research report on Wednesday, May 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $24.00 price objective on shares of Via Transportation in a research report on Tuesday, May 12th. Finally, Wells Fargo & Company dropped their price objective on Via Transportation from $36.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Via Transportation has an average rating of “Moderate Buy” and a consensus price target of $37.10.

Via Transportation Price Performance

The business has a 50-day moving average of $15.45 and a two-hundred day moving average of $22.32. The company has a market cap of $1.25 billion and a P/E ratio of -16.51.

Institutional Investors Weigh In On Via Transportation

Several institutional investors have recently added to or reduced their stakes in VIA. Wellington Management Group LLP acquired a new stake in Via Transportation in the third quarter worth about $93,662,000. Koch Inc. acquired a new stake in Via Transportation in the third quarter worth about $81,747,000. Capital Research Global Investors boosted its holdings in Via Transportation by 153.9% in the fourth quarter. Capital Research Global Investors now owns 2,140,200 shares of the company’s stock worth $62,087,000 after acquiring an additional 1,297,114 shares in the last quarter. Vanguard Group Inc. acquired a new stake in Via Transportation in the third quarter worth about $39,965,000. Finally, Capital World Investors acquired a new stake in Via Transportation in the third quarter worth about $26,444,000. 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.