Synovus Financial Corp bought a new position in shares of Volta Inc. (NYSE:VLTA – Get Rating) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 25,000 shares of the company’s stock, valued at approximately $30,000.
Other hedge funds have also recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new position in Volta during the 1st quarter worth about $31,000. Lazard Asset Management LLC acquired a new stake in Volta in the 1st quarter valued at about $38,000. Dynamic Technology Lab Private Ltd acquired a new stake in Volta in the 1st quarter valued at about $45,000. Ensign Peak Advisors Inc acquired a new stake in Volta in the 1st quarter valued at about $52,000. Finally, Capital Wealth Alliance LLC acquired a new stake in Volta in the 2nd quarter valued at about $4,035,000. Institutional investors and hedge funds own 20.37% of the company’s stock.
Analysts Set New Price Targets
VLTA has been the topic of a number of analyst reports. DA Davidson reduced their price target on Volta from $2.00 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 16th. Raymond James lowered Volta from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 15th. Needham & Company LLC reduced 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. Finally, The Goldman Sachs Group cut their target price on Volta from $1.00 to $0.75 and set a “sell” rating on the stock in a research report on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Volta presently has an average rating of “Hold” and a consensus price target of $2.31.
Volta Trading Up 10.7 %
Volta (NYSE:VLTA – Get Rating) last released its quarterly earnings results on Monday, November 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.25). The firm had revenue of $14.36 million for the quarter, compared to the consensus estimate of $15.45 million. Volta had a negative return on equity of 110.38% and a negative net margin of 496.15%. On average, research analysts anticipate that Volta Inc. will post -0.99 EPS for the current year.
Volta Company Profile
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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