Volta Inc. (NYSE:VLTA) Given Consensus Recommendation of “Hold” by Brokerages

Volta Inc. (NYSE:VLTA – Get Rating) has earned an average rating of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $7.94.

Several analysts recently weighed in on VLTA shares. The Goldman Sachs Group downgraded Volta from a “neutral” rating to a “sell” rating and decreased their target price for the company from $3.00 to $2.00 in a research note on Tuesday, April 19th. DA Davidson downgraded Volta from a “buy” rating to a “neutral” rating and decreased their target price for the company from $13.00 to $5.00 in a research note on Monday, March 28th. Canaccord Genuity Group cut Volta from a “buy” rating to a “hold” rating and cut their price target for the company from $10.00 to $3.00 in a report on Monday, March 28th. Canaccord Genuity Group cut their price target on Volta from $3.00 to $2.50 and set a “hold” rating for the company in a report on Tuesday, April 19th. Finally, Raymond James cut their price target on Volta from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, April 19th.

Several institutional investors and hedge funds have recently modified their holdings of VLTA. Steward Partners Investment Advisory LLC acquired a new stake in Volta during the 4th quarter valued at $29,000. CTC Capital Management LLC acquired a new stake in Volta during the 1st quarter valued at $35,000. Newbridge Financial Services Group Inc. acquired a new stake in Volta during the 4th quarter valued at $37,000. Sciencast Management LP acquired a new stake in Volta during the 1st quarter valued at $37,000. Finally, Wolverine Asset Management LLC increased its holdings in Volta by 625.8% during the 1st quarter. Wolverine Asset Management LLC now owns 17,448 shares of the company’s stock valued at $53,000 after purchasing an additional 15,044 shares in the last quarter. 20.37% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:VLTA opened at $1.85 on Friday. The business has a 50 day moving average price of $2.76 and a 200 day moving average price of $3.94. Volta has a twelve month low of $1.65 and a twelve month high of $14.34. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.08 and a current ratio of 3.11.

Volta (NYSE:VLTA – Get Rating) last announced its earnings results 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). Research analysts forecast that Volta will post -0.65 EPS for the current fiscal year.

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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