Volta (NYSE:VLTA) Price Target Cut to $1.00

Volta (NYSE:VLTAGet Rating) had its target price reduced by DA Davidson from $2.00 to $1.00 in a research report sent to investors on Wednesday, The Fly reports. They currently have a neutral rating on the stock.

Several other research firms have also recently commented on VLTA. Roth Capital cut shares of Volta from a buy rating to a neutral rating and lowered their target price for the company from $5.50 to $2.50 in a research note on Tuesday, August 9th. Barclays began coverage on Volta in a research report on Friday, August 5th. They issued an equal weight rating and a $2.00 target price for the company. Needham & Company LLC lowered their price target on Volta from $7.00 to $2.00 and set a buy rating on the stock in a research report on Thursday, October 20th. The Goldman Sachs Group cut their price objective on Volta from $1.50 to $1.00 and set a sell rating for the company in a report on Tuesday, October 11th. Finally, Raymond James lowered Volta from an outperform rating to a market perform rating in a report on Tuesday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $2.31.

Volta Price Performance

Shares of VLTA opened at $0.66 on Wednesday. Volta has a one year low of $0.64 and a one year high of $11.42. The stock’s fifty day moving average is $1.29 and its 200-day moving average is $1.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.40 and a current ratio of 0.56. The firm has a market capitalization of $111.23 million, a price-to-earnings ratio of -0.43 and a beta of 1.91.

Hedge Funds Weigh In On Volta

Hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Pictet & Cie SA acquired a new stake in Volta during the 1st quarter worth about $6,177,000. Commonwealth Equity Services LLC raised its holdings in shares of Volta by 65.0% during the first quarter. Commonwealth Equity Services LLC now owns 32,313 shares of the company’s stock valued at $98,000 after acquiring an additional 12,735 shares during the period. Wolverine Asset Management LLC boosted its stake in Volta by 625.8% in the 1st quarter. Wolverine Asset Management LLC now owns 17,448 shares of the company’s stock worth $53,000 after purchasing an additional 15,044 shares during the period. Qube Research & Technologies Ltd grew its position in Volta by 302.1% during the 1st quarter. Qube Research & Technologies Ltd now owns 276,831 shares of the company’s stock worth $844,000 after purchasing an additional 207,977 shares in the last quarter. Finally, Swiss National Bank raised its stake in Volta by 7.8% during the 1st quarter. Swiss National Bank now owns 270,100 shares of the company’s stock valued at $824,000 after purchasing an additional 19,500 shares during the period. Institutional investors and hedge funds own 20.37% of the company’s stock.

Volta Company Profile

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Volta Inc operates a network of smart media-enabled charging stations for electric vehicles in the United States. As of December 31, 2021, it had installed 2,264 chargers across 23 territories and states. Volta Inc was founded in 2010 and is headquartered in San Francisco, California.

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