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Needham Thinks Volta’s Stock is Going to Recover

Needham analyst Vikram Bagri maintained a Buy rating on Volta (VLTAResearch Report) today and set a price target of $7.00. The company’s shares closed last Friday at $2.12, close to its 52-week low of $1.65.

According to TipRanks.com, Bagri is ranked #7708 out of 7883 analysts.

Currently, the analyst consensus on Volta is a Hold with an average price target of $4.70.

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Volta’s market cap is currently $375.5M and has a P/E ratio of -1.41.

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Volta Industries, LLC is a San Francisco-based developer of electric vehicle charging stations. Its charging networks are free of charge for electric vehicle owners, while Volta earns its profits from retailers who pay for advertisements that are displayed on the charging stations. Volta places its stations in areas with high consumer traffic, such as hospitals and grocery stores, thereby giving maximum exposure to its advertisers.

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