Analysts Set Volta Inc. (NYSE:VLTA) PT at $4.06

Volta Inc. (NYSE:VLTAGet Rating) has been assigned a consensus rating of “Hold” from the nine brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $4.06.

A number of brokerages recently issued reports on VLTA. Raymond James lowered their price target on shares of Volta from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, July 12th. Cantor Fitzgerald cut shares of Volta from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $6.00 to $4.00 in a research report on Monday, June 13th. Roth Capital cut shares of Volta from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.50 to $2.50 in a research report on Tuesday, August 9th. Barclays began coverage on shares of Volta in a research report on Friday, August 5th. They set an “equal weight” rating and a $2.00 price target for the company. Finally, DA Davidson set a $2.50 price target on shares of Volta in a research report on Monday, June 20th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VLTA. Evolution Wealth Advisors LLC purchased a new position in Volta in the second quarter worth about $6,412,000. State Street Corp grew its stake in shares of Volta by 327.7% in the second quarter. State Street Corp now owns 5,342,776 shares of the company’s stock worth $6,946,000 after acquiring an additional 4,093,445 shares during the period. Banque Pictet & Cie SA bought a new stake in shares of Volta in the first quarter worth approximately $6,177,000. Vanguard Group Inc. grew its stake in shares of Volta by 70.0% in the first quarter. Vanguard Group Inc. now owns 4,900,675 shares of the company’s stock worth $14,946,000 after acquiring an additional 2,017,589 shares during the period. Finally, Occidental Asset Management LLC bought a new stake in shares of Volta in the second quarter worth approximately $1,419,000. 20.37% of the stock is owned by hedge funds and other institutional investors.

Volta Trading Down 7.3 %

NYSE:VLTA opened at $2.29 on Thursday. The company has a 50-day moving average price of $2.14 and a 200-day moving average price of $2.30. Volta has a 12 month low of $1.22 and a 12 month high of $13.23. The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market cap of $386.81 million, a price-to-earnings ratio of -1.24 and a beta of 1.78.

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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