Volta (NYSE:VLTA) Price Target Cut 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 note issued to investors on Tuesday morning, The Fly reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other research analysts have also weighed in on VLTA. The Goldman Sachs Group reduced their price objective on Volta from $7.00 to $6.00 and set a neutral rating for the company in a research report on Monday, March 28th. Zacks Investment Research upgraded Volta from a sell rating to a hold rating in a research note on Friday, January 7th. Canaccord Genuity Group downgraded Volta from a buy rating to a hold rating and dropped their price target for the stock from $10.00 to $3.00 in a research note on Monday, March 28th. DA Davidson downgraded Volta from a buy rating to a neutral rating and lowered their target price for the company from $13.00 to $5.00 in a research report on Monday, March 28th. Finally, Raymond James decreased their price target on Volta from $10.00 to $7.00 and set an outperform rating on the stock in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Volta has a consensus rating of Hold and an average target price of $8.44.

VLTA stock opened at $2.64 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.96 and a quick ratio of 2.93. Volta has a one year low of $2.50 and a one year high of $14.34. The firm has a 50 day simple moving average of $3.56 and a two-hundred day simple moving average of $4.40.

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

A number of hedge funds and other institutional investors have recently modified their holdings of VLTA. Pictet Asset Management SA raised its stake in shares of Volta by 413.0% during the 4th quarter. Pictet Asset Management SA now owns 5,823,045 shares of the company’s stock worth $42,741,000 after buying an additional 4,687,941 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Volta by 123.1% in the 4th quarter. Handelsbanken Fonder AB now owns 3,729,473 shares of the company’s stock worth $27,374,000 after acquiring an additional 2,057,796 shares during the last quarter. Geode Capital Management LLC acquired a new stake in shares of Volta in the 4th quarter worth $7,616,000. Alps Advisors Inc. acquired a new stake in shares of Volta in the 4th quarter worth $6,829,000. Finally, Tortoise Capital Advisors L.L.C. purchased a new position in shares of Volta during the 3rd quarter worth $6,488,000. Hedge funds and other institutional investors own 20.37% of the company’s stock.

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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