The Goldman Sachs Group Downgrades Volta (NYSE:VLTA) to Sell

The Goldman Sachs Group lowered shares of Volta (NYSE:VLTAGet Rating) from a neutral rating to a sell rating in a research report report published on Tuesday, MarketBeat reports. The Goldman Sachs Group currently has $2.00 price objective on the stock, down from their previous price objective of $3.00.

Several other research firms have also recently weighed in on VLTA. Zacks Investment Research upgraded shares of Volta from a sell rating to a hold rating in a research report on Friday, January 7th. Canaccord Genuity Group lowered shares of Volta from a buy rating to a hold rating and reduced their target price for the company from $10.00 to $3.00 in a research note on Monday, March 28th. Raymond James reduced their target price on shares of Volta from $10.00 to $7.00 and set an outperform rating on the stock in a research note on Tuesday. DA Davidson lowered shares of Volta from a buy rating to a neutral rating and reduced their target price for the company from $13.00 to $5.00 in a research note on Monday, March 28th. Finally, Canaccord Genuity Group reduced their target price on shares of Volta from $3.00 to $2.50 and set a hold rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $7.94.

VLTA opened at $2.19 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.93 and a current ratio of 2.96. Volta has a 1-year low of $2.13 and a 1-year high of $14.34. The firm has a 50-day moving average price of $3.37 and a two-hundred day moving average price of $4.28.

Volta (NYSE:VLTAGet Rating) last posted its quarterly earnings data on Friday, April 15th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.61). As a group, equities research analysts predict that Volta will post -1.57 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC bought a new position in Volta during the 4th quarter worth approximately $29,000. Newbridge Financial Services Group Inc. bought a new position in Volta in the fourth quarter valued at approximately $37,000. Deutsche Bank AG bought a new position in Volta in the fourth quarter valued at approximately $59,000. Penserra Capital Management LLC bought a new position in Volta in the third quarter valued at approximately $82,000. Finally, D.A. Davidson & CO. bought a new position in Volta in the fourth quarter valued at approximately $74,000. 20.37% of the stock is currently owned by institutional investors and hedge funds.

About Volta (Get Rating)

Volta Inc operates a network of smart media-enabled charging stations for electric vehicles in the United States. As of June 30, 2021, it installed approximately 1,900 chargers across 26 territories and states. Volta Inc was founded in 2010 and is headquartered in San Francisco, California.

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Analyst Recommendations for Volta (NYSE:VLTA)

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