Volta (NYSE:VLTA) PT Lowered to $2.50

Volta (NYSE:VLTAGet Rating) had its target price reduced by Canaccord Genuity Group from $3.00 to $2.50 in a research report report published on Tuesday, The Fly reports. They currently have a hold rating on the stock.

Several other research firms have also weighed in on VLTA. 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 report on Monday, March 28th. The Goldman Sachs Group cut their price objective on shares of Volta from $7.00 to $6.00 and set a neutral rating on the stock in a report on Monday, March 28th. Raymond James cut their price objective on shares of Volta from $10.00 to $7.00 and set an outperform rating on the stock in a report on Tuesday. Canaccord Genuity Group lowered shares of Volta from a buy rating to a hold rating and cut their price objective for the stock from $10.00 to $3.00 in a report on Monday, March 28th. Finally, Zacks Investment Research upgraded shares of Volta from a sell rating to a hold rating in a report on Friday, January 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Volta presently has an average rating of Hold and an average target price of $7.94.

Shares of VLTA opened at $2.19 on Tuesday. The company has a current ratio of 2.96, a quick ratio of 2.93 and a debt-to-equity ratio of 0.09. The company’s fifty day moving average is $3.37 and its two-hundred day moving average is $4.28. Volta has a fifty-two week low of $2.13 and a fifty-two week high of $14.34.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Volta in the 4th quarter worth about $37,000. Qube Research & Technologies Ltd increased its position in shares of Volta by 395.9% in the 4th quarter. Qube Research & Technologies Ltd now owns 68,854 shares of the company’s stock worth $505,000 after purchasing an additional 54,970 shares during the last quarter. Raymond James & Associates bought a new stake in shares of Volta in the 3rd quarter worth about $285,000. Suvretta Capital Management LLC bought a new stake in shares of Volta in the 3rd quarter worth about $2,595,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Volta during the 3rd quarter valued at about $122,000. 20.37% of the stock is owned by institutional investors.

Volta Company Profile (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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