Canaccord Genuity slashes price target on Volta Inc. [VLTA] – find out why.


Volta Inc. [NYSE: VLTA] closed the trading session at $4.12 on 03/21/22. The day’s price range saw the stock hit a low of $4.02, while the highest price level was $4.6196. The company report on March 21, 2022 that Volta Inc. To Reschedule Fourth Quarter 2021 Earnings Release Date and Conference Call.

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Volta Inc. (“Volta” or “the Company”) (NYSE: VLTA), today announced that it will be rescheduling its fourth quarter and year end 2021 conference call once it completes the necessary review of its financial results. Today, the Company will file an amendment to its quarterly report on form 10-Q for the quarter ended September 30, 2021.

The stocks have a year to date performance of -43.87 percent and weekly performance of 2.23 percent. The stock has been moved at -65.44 percent over the last six months. The stock has performed -20.46 percent around the most recent 30 days and changed -50.36 percent over the most recent 3-months.

If compared to the average trading volume of 2.39M shares, VLTA reached to a volume of 6470159 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Volta Inc. [VLTA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VLTA shares is $12.36 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VLTA stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for Volta Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 01, 2022. While these analysts kept the previous recommendation, Goldman raised their target price to Neutral. The new note on the price target was released on December 16, 2021, representing the official price target for Volta Inc. stock. Previously, the target price had yet another raise to $13, while Cantor Fitzgerald analysts kept a Overweight rating on VLTA stock.

The Average True Range (ATR) for Volta Inc. is set at 0.42, with the Price to Sales ratio for VLTA stock in the period of the last 12 months amounting to 24.40. The Price to Book ratio for the last quarter was 2.19, with the Price to Cash per share for the same quarter was set at 1.96.

VLTA stock trade performance evaluation

Volta Inc. [VLTA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.23. With this latest performance, VLTA shares dropped by -20.46% in over the last four-week period, additionally sinking by -65.44% over the last 6 months – not to mention a drop of -62.61% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VLTA stock in for the last two-week period is set at 43.64, with the RSI for the last a single of trading hit 43.63, and the three-weeks RSI is set at 42.84 for Volta Inc. [VLTA]. The present Moving Average for the last 50 days of trading for this stock 4.81, while it was recorded at 4.37 for the last single week of trading, and 8.35 for the last 200 days.

Volta Inc. [VLTA]: An insightful look at the core fundamentals

Volta Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.90 and a Current Ratio set at 3.00.

Volta Inc. [VLTA]: Insider Ownership positions

There are presently around $111 million, or 17.80% of VLTA stock, in the hands of institutional investors. The top three institutional holders of VLTA stocks are: PICTET ASSET MANAGEMENT SA with ownership of 5,823,045, which is approximately 412.997% of the company’s market cap and around 15.30% of the total institutional ownership; HANDELSBANKEN FONDER AB, holding 3,729,473 shares of the stock with an approximate value of $15.37 million in VLTA stocks shares; and VANGUARD GROUP INC, currently with $11.88 million in VLTA stock with ownership of nearly 153.521% of the company’s market capitalization.

67 institutional holders increased their position in Volta Inc. [NYSE:VLTA] by around 17,007,284 shares. Additionally, 37 investors decreased positions by around 11,584,176 shares, while 7 investors held positions by with 1,767,939 shares. The mentioned changes placed institutional holdings at 26,823,521 shares, according to the latest SEC report filing. VLTA stock had 51 new institutional investments in for a total of 7,925,330 shares, while 23 institutional investors sold positions of 6,519,255 shares during the same period.