Volta (NYSE:VLTA) Upgraded at Zacks Investment Research

Volta (NYSE:VLTAGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Volta Industries Inc. provides commerce-centric electric vehicle. Volta Industries Inc., formerly known as Tortoise Acquisition Corp. II, is based in OVERLAND PARK, KS. “

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity Group downgraded Volta from a “buy” rating to a “hold” rating and reduced their target price for the company from $10.00 to $3.00 in a report on Monday, March 28th. DA Davidson downgraded 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 downgraded Volta from a “neutral” rating to a “sell” rating and reduced their target price for the company from $3.00 to $2.00 in a report on Tuesday, April 19th. Cantor Fitzgerald cut their price target on Volta from $8.00 to $6.00 in a research note on Wednesday, May 18th. 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 research note on Tuesday, April 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.06.

NYSE:VLTA traded down $0.18 during mid-day trading on Tuesday, hitting $2.28. The stock had a trading volume of 60,042 shares, compared to its average volume of 2,682,823. The stock has a 50-day simple moving average of $2.40 and a two-hundred day simple moving average of $3.63. Volta has a twelve month low of $1.65 and a twelve month high of $14.34. The company has a quick ratio of 2.45, a current ratio of 2.48 and a debt-to-equity ratio of 0.08.

Volta (NYSE:VLTAGet Rating) last announced its quarterly earnings results on Friday, May 13th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.11). As a group, equities research analysts predict that Volta will post -0.91 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Volta during the 4th quarter worth about $29,000. Newbridge Financial Services Group Inc. acquired a new position in Volta during the 4th quarter worth approximately $37,000. Deutsche Bank AG acquired a new position in Volta during the 4th quarter worth approximately $59,000. Penserra Capital Management LLC acquired a new position in Volta during the 3rd quarter worth approximately $82,000. Finally, Hsbc Holdings PLC acquired a new position in Volta during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 20.37% of the company’s stock.

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 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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