Via Transportation Inc. (NYSE:VIA – Get Free Report)’s stock price dropped 6.1% during trading on Tuesday . The company traded as low as $17.65 and last traded at $17.4650. Approximately 58,508 shares traded hands during trading, a decline of 93% from the average daily volume of 803,917 shares. The stock had previously closed at $18.59.
Key Via Transportation News
Here are the key news stories impacting Via Transportation this week:
- Negative Sentiment: Multiple law firms, including The Gross Law Firm, Faruqi & Faruqi, Rosen Law Firm, Schall Law Firm, Berger Montague, Bronstein, Gewirtz & Grossman, Levi & Korsinsky, and Kahn Swick & Foti, announced or reminded investors about a class action lawsuit against Via Transportation and an August 10 deadline to seek lead-plaintiff status. These notices cite alleged securities law violations and investor losses tied to the IPO, which can weigh on sentiment and keep the stock under pressure. Article Title
- Negative Sentiment: Several notices highlight claims that Via’s stock has fallen sharply since the IPO and that investors were harmed by alleged undisclosed growth obstacles and disclosures. That narrative reinforces concerns about execution and legal risk, which may further hurt investor confidence. Article Title
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on VIA shares. Morgan Stanley restated an “overweight” rating and issued a $24.00 price objective on shares of Via Transportation in a research report on Tuesday, May 12th. Wells Fargo & Company reduced their target price on shares of Via Transportation from $36.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft set a $25.00 price target on shares of Via Transportation in a report on Wednesday, May 13th. Raymond James Financial set a $19.00 price objective on shares of Via Transportation in a research report on Tuesday, May 12th. Finally, Guggenheim restated a “buy” rating and issued a $50.00 target price on shares of Via Transportation in a research note on Wednesday, June 17th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.10.
Via Transportation Price Performance
The stock has a market cap of $1.44 billion and a PE ratio of -19.03. The business has a fifty day moving average of $16.08 and a 200 day moving average of $18.02.
Insider Buying and Selling
In other Via Transportation news, Director Nechemia Jacob Peres bought 25,000 shares of Via Transportation stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $14.70 per share, for a total transaction of $367,500.00. Following the purchase, the director owned 30,434 shares in the company, valued at $447,379.80. This represents a 460.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel Ramot purchased 3,571 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were bought at an average cost of $14.00 per share, with a total value of $49,994.00. Following the transaction, the chief executive officer directly owned 2,420,957 shares of the company’s stock, valued at approximately $33,893,398. This represents 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. Over the last ninety days, insiders acquired 31,904 shares of company stock worth $467,289. 39.28% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in VIA. Wellington Management Group LLP acquired a new position in shares of Via Transportation in the 3rd quarter worth approximately $93,662,000. Capital Research Global Investors raised its position in shares of Via Transportation by 153.9% during the 4th quarter. Capital Research Global Investors now owns 2,140,200 shares of the company’s stock valued at $62,087,000 after acquiring an additional 1,297,114 shares in the last quarter. Vanguard Group Inc. bought a new position in Via Transportation during the third quarter worth $39,965,000. Summit Partners Public Asset Management LLC bought a new position in Via Transportation during the fourth quarter worth $14,233,000. Finally, Alliancebernstein L.P. acquired a new position in Via Transportation in the third quarter worth $23,317,000. 74.40% of the stock is owned by institutional investors and hedge funds.
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.
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