Why Volta's Stock Is Plunging Today
Giving investors an unwelcome jolt, analysts turned sour on electric-vehicle (EV) charging network stock Volta (NYSE: VLTA) on Tuesday after the trading session ended, and the market is responding to the bearish sentiment today.
As of 1:37 p.m. ET on Wednesday, shares of Volta had fallen 9.2%.
The first bit of pessimism came from Jed Dorsheimer, an analyst at Canaccord Genuity. Dorsheimer slashed the price target on Volta to $2.50 from $3 and maintained a hold rating on the stock. According to Thefly.com, Dorsheimer predicated his revised price target on the fact that Volta recently posted a loss that was far steeper than expected. While analysts anticipated the company would report a loss per share of $0.16 for the fourth quarter of 2021, the loss was $0.77 per share.
Source Fool.com
