Shares of Volta Inc – Class A (NYSE:VLTA – Get Rating) fell 6% on Wednesday after Raymond James lowered their price target on the stock from $12.50 to $10.00. Raymond James currently has an outperform rating on the stock. Volta Inc – Class A traded as low as $3.12 and last traded at $3.15. 15,061 shares traded hands during trading, a decline of 100% from the average session volume of 3,110,536 shares. The stock had previously closed at $3.35.
A number of other research analysts have also commented on the stock. DA Davidson lowered shares of Volta Inc – Class A from a “buy” rating to a “neutral” rating and decreased their price target for the company from $13.00 to $5.00 in a research note on Monday, March 28th. The Goldman Sachs Group lowered their target price on Volta Inc – Class A from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Monday, March 28th. Canaccord Genuity Group cut Volta Inc – Class A from a “buy” rating to a “hold” rating and dropped their price target for the stock from $10.00 to $3.00 in a report on Monday, March 28th. Canaccord Genuity Group lowered Volta Inc – Class A from a “buy” rating to a “hold” rating and decreased their price objective for the company from $10.00 to $3.00 in a report on Monday, March 28th. Finally, Zacks Investment Research raised Volta Inc – Class A from a “sell” rating to a “hold” rating in a report on Friday, January 7th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.88.
A number of large investors have recently modified their holdings of the stock. Pictet Asset Management SA grew its stake in Volta Inc – Class A by 413.0% during the fourth quarter. Pictet Asset Management SA now owns 5,823,045 shares of the company’s stock worth $42,741,000 after buying an additional 4,687,941 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Volta Inc – Class A by 123.1% during the fourth quarter. Handelsbanken Fonder AB now owns 3,729,473 shares of the company’s stock worth $27,374,000 after buying an additional 2,057,796 shares in the last quarter. Geode Capital Management LLC acquired a new stake in shares of Volta Inc – Class A in the 4th quarter valued at $7,616,000. Alps Advisors Inc. acquired a new stake in shares of Volta Inc – Class A in the 4th quarter valued at $6,829,000. Finally, Tortoise Capital Advisors L.L.C. acquired a new stake in shares of Volta Inc – Class A in the 3rd quarter valued at approximately $6,488,000. 20.37% of the stock is currently owned by institutional investors and hedge funds.
The company has a current ratio of 2.96, a quick ratio of 2.93 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average of $3.96 and a two-hundred day moving average of $4.80.
About Volta Inc – Class A (NYSE:VLTA)
Tortoise Acquisition Corp. II does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Leawood, Kansas.