Via Transportation (NYSE:VIA) Stock Price Up 7.1% – Should You Buy?

Via Transportation Inc. (NYSE:VIA)’s share price rose 7.1% on Tuesday . The company traded as high as $24.98 and last traded at $24.9680. Approximately 462,975 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 817,145 shares. The stock had previously closed at $23.31.

Wall Street Analysts Forecast Growth

VIA has been the topic of several recent analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $24.00 target price on shares of Via Transportation in a research report on Wednesday, May 13th. Morgan Stanley restated an “overweight” rating and set a $24.00 price target on shares of Via Transportation in a research note on Tuesday, May 12th. Guggenheim restated a “buy” rating and set a $50.00 price objective on shares of Via Transportation in a report on Wednesday, June 17th. Oppenheimer increased their price objective on shares of Via Transportation from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Finally, Raymond James Financial set a $19.00 target price on shares of Via Transportation in a research note on Tuesday, May 12th. 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 stock. According to data from MarketBeat, Via Transportation currently has a consensus rating of “Moderate Buy” and an average price target of $37.80.

Via Transportation Stock Performance

The company has a market cap of $2.12 billion and a price-to-earnings ratio of -28.11. The company’s fifty day moving average is $18.12 and its two-hundred day moving average is $17.38.

Insider Buying and Selling at Via Transportation

In related news, Director Nechemia Jacob Peres purchased 25,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average cost of $14.70 per share, with a total value of $367,500.00. Following the transaction, the director owned 30,434 shares of the company’s stock, valued at approximately $447,379.80. This trade represents a 460.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel Ramot acquired 3,571 shares of Via Transportation stock in a transaction on Tuesday, June 16th. The shares were bought at an average price of $14.00 per share, with a total value of $49,994.00. Following the purchase, 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 position. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have purchased 41,984 shares of company stock valued at $716,668. 39.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Via Transportation

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Weiss Asset Management LP purchased a new position in shares of Via Transportation during the 1st quarter valued at approximately $2,433,000. Compound Planning Inc. purchased a new stake in Via Transportation during the first quarter worth $1,312,000. Summit Partners Public Asset Management LLC purchased a new stake in Via Transportation during the fourth quarter worth $14,233,000. Principal Financial Group Inc. grew its position in Via Transportation by 39.6% during the first quarter. Principal Financial Group Inc. now owns 1,086,438 shares of the company’s stock valued at $16,297,000 after buying an additional 308,283 shares during the period. Finally, Stephens Investment Management Group LLC increased its holdings in Via Transportation by 135.2% in the fourth quarter. Stephens Investment Management Group LLC now owns 234,211 shares of the company’s stock valued at $6,794,000 after buying an additional 134,646 shares in the last quarter. 74.40% of the stock is owned by institutional investors and hedge funds.

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.