Volta Inc. [VLTA] stock Downgrade by Goldman analyst, price target now $2


Volta Inc. [NYSE: VLTA] gained 1.40% or 0.03 points to close at $2.18 with a heavy trading volume of 3252360 shares. The company report on April 28, 2022 that Volta Partners With the State of Michigan and DTE Energy.

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Collaboration utilizes Volta’s PredictEV® analytics and media-supported charging to accelerate the switch to EVs within lower-income and environmental justice communities.

Agreement marks Volta’s sixth paid partnership with an electric power utility and second with a state authority.

It opened the trading session at $2.19, the shares rose to $2.23 and dropped to $2.01, the range by which the price of stock traded the whole day. The daily chart for VLTA points out that the company has recorded -68.63% loss over the past six months. However, it is still -5.31% lower than its most recent low trading price.

If we look at the average trading volume of 3.73M shares, VLTA reached to a volume of 3252360 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $5.29 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.

Goldman have made an estimate for Volta Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on April 20, 2022. While these analysts kept the previous recommendation, DA Davidson raised their target price from $13 to $5. The new note on the price target was released on March 28, 2022, representing the official price target for Volta Inc. stock. Previously, the target price had yet another drop from $10 to $3, while Canaccord Genuity kept a Hold rating on VLTA stock.

The Average True Range (ATR) for Volta Inc. is set at 0.26, with the Price to Sales ratio for VLTA stock in the period of the last 12 months amounting to 12.55. The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 1.41.

Trading performance analysis for VLTA stock

Volta Inc. [VLTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by 0.00. With this latest performance, VLTA shares dropped by -34.53% in over the last four-week period, additionally sinking by -68.63% over the last 6 months – not to mention a drop of -78.52% 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 30.71, with the RSI for the last a single of trading hit 29.41, and the three-weeks RSI is set at 32.73 for Volta Inc. [VLTA]. The present Moving Average for the last 50 days of trading for this stock 3.65, while it was recorded at 2.18 for the last single week of trading, and 7.39 for the last 200 days.

Volta Inc. [VLTA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Volta Inc. [VLTA] shares currently have an operating margin of -824.20 and a Gross Margin at -10.98. Volta Inc.’s Net Margin is presently recorded at -856.04.

Return on Equity for this stock declined to -96.89, with Return on Assets sitting at -67.44.

Volta Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.10.

An analysis of insider ownership at Volta Inc. [VLTA]

There are presently around $59 million, or 16.70% 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 19.30% of the total institutional ownership; HANDELSBANKEN FONDER AB, holding 3,729,473 shares of the stock with an approximate value of $8.13 million in VLTA stocks shares; and VANGUARD GROUP INC, currently with $6.29 million in VLTA stock with ownership of nearly 153.521% of the company’s market capitalization.

Positions in Volta Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 65 institutional holders increased their position in Volta Inc. [NYSE:VLTA] by around 17,344,342 shares. Additionally, 36 investors decreased positions by around 11,570,909 shares, while 12 investors held positions by with 1,683,340 shares. The mentioned changes placed institutional holdings at 27,231,911 shares, according to the latest SEC report filing. VLTA stock had 48 new institutional investments in for a total of 8,222,388 shares, while 23 institutional investors sold positions of 6,520,039 shares during the same period.