Volta (NYSE:VLTA) Price Target Cut to $1.00 by Analysts at DA Davidson

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

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

Volta Price Performance

Shares of VLTA stock opened at $0.66 on Wednesday. The company has a market capitalization of $111.23 million, a P/E ratio of -0.43 and a beta of 1.91. The company has a current ratio of 0.56, a quick ratio of 1.40 and a debt-to-equity ratio of 0.07. Volta has a 12 month low of $0.64 and a 12 month high of $11.42. The stock has a 50 day moving average of $1.29 and a two-hundred day moving average of $1.76.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC bought a new position in shares of Volta in the second quarter worth about $29,000. Synovus Financial Corp acquired a new stake in shares of Volta in the third quarter valued at approximately $30,000. Hsbc Holdings PLC bought a new position in Volta in the 1st quarter worth approximately $31,000. Two Sigma Investments LP acquired a new position in Volta during the 3rd quarter worth $31,000. Finally, CTC Capital Management LLC bought a new position in Volta in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 20.37% of the company’s stock.

About Volta

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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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