Mellon Investments Corp. recently announced the acquisition of new stake in Via Renewables Inc. (NASDAQ:VIA). The institutional investor has increased its shareholding in the Utilities company by 2.34% to 0.31 million shares with purchase of 6982.0 shares. This fresh investment now brings its stake to 1.93% valued currently at $1.56 million. In addition, Dimensional Fund Advisors LP raised its holdings by 11055.0 to 0.27 million shares. And SSgA Funds Management, Inc. has lifted its position by 7.07% or 17626.0 shares – to 0.27 million shares.
With over 0.25 million Via Renewables Inc. (VIA) shares trading Tuesday and a closing price of $6.27 on the day, the dollar volume was approximately $1.55 million. The shares have shown a negative half year performance of -20.13% and its price on 01/24/23 gained nearly 1.95%. Currently, there are 15.86M common shares owned by the public and among those 12.05M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for VIA have a consensus price objective of $8.00. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $8.00. But an upside of 21.63% will see the stock hit the forecast high price target while median target price for the stock is $8.00.
Insiders at the company have transacted a total of 16 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 208,875 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 53,671 shares.
The top 3 mutual fund holders in Via Renewables Inc. are Vanguard Total Stock Market Index, London Life Global Infrastructure, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 0.34 million shares of the company’s stock, all valued at over $1.76 million. London Life Global Infrastructure bought 68376.0 shares to see its total holdings expand to 0.29 million shares valued at over $1.5 million and representing 1.85% of the shares outstanding. iShares Russell 2000 ETF sold 2928.0 shares to bring its total holdings to over 0.28 million shares at a value of $1.42 million. iShares Russell 2000 ETF now owns shares totaling to 1.75% of the shares outstanding.
Shares of Via Renewables Inc. (NASDAQ: VIA) opened at $6.14, down -$0.01 from a prior closing price of $6.15. However, the script later moved the day high at 6.33, up 1.95%. The company’s stock has a 5-day price change of 5.91% and 6.27% over the past three months. VIA shares are trading 22.70% year to date (YTD), with the 12-month market performance down to -44.66% lower. It has a 12-month low price of $4.89 and touched a high of $11.80 over the same period. VIA has an average intraday trading volume of 99.42K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.68%, 4.69%, and -13.10% respectively.
Institutional ownership of Via Renewables Inc. (NASDAQ: VIA) shares accounts for 37.10% of the company’s 15.86M shares outstanding. Mutual fund holders own 19.24%, while other institutional holders and individual stakeholders account for 23.92% and 17.64% respectively.
It has a market capitalization of $216.25M and a beta (3y monthly) value of 1.09. The earnings-per-share (ttm) stands at -$0.23. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.59% over the week and 4.09% over the month.
Analysts forecast that Via Renewables Inc. (VIA) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2022. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.64 a year ago.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Via Renewables Inc. (VIA) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
