Is Shift Technologies Inc. (NASDAQ: SFT)’s Stock Ready To Increase In Value? – Marketing Sentinel
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Is Shift Technologies Inc. (NASDAQ: SFT)’s Stock Ready To Increase In Value?

In the last trading session, 1.6 million shares of the Shift Technologies Inc. (NASDAQ:SFT) were traded. Most recently the company’s share price was $0.65, and it changed around $0.01 or 2.76% from the last close, which brings the market valuation of the company to $53.16M. SFT currently trades at a discount to its 52-week high of $9.75, offering almost -1400.0% off that amount. The share price’s 52-week low was $0.60, which indicates that the current value has risen by an impressive 7.69% since then. We note from Shift Technologies Inc.’s average daily trading volume that its 3-month average coming to 1.89 million.

Shift Technologies Inc. (NASDAQ:SFT) trade information

Instantly SFT has showed a green trend with a performance of 2.76% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 0.7954 on Tuesday, 06/21/22 increased the stock’s daily price by 18.28%. The company’s shares are currently down -80.79% year-to-date, but still down -8.79% over the last five days. On the other hand, Shift Technologies Inc. (NASDAQ:SFT) is -36.41% down in the 30-day period.

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The consensus price target as assigned by Wall Street analysts is $5.11, which translates to bulls needing to increase their stock price by 87.28% from its current value. Analyst projections state that SFT is forecast to be at a low of $1.50 and a high of $12.00. In order for the stock price to hit the forecast high, the stock would need to plunge -1746.15% from its current level, while the stock would need to crash -130.77% from its current level to reach the projected low.

Shift Technologies Inc. (SFT) estimates and forecasts

Shift Technologies Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -79.91 percent over the past six months and at a 11.21% annual growth rate that is well above the industry average of -5.90%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -31.70% in revenue this quarter, and will report a decrease of -4.20% in the next quarter. The year-over-year growth rate is expected to be 61.80%, up from the previous year.

Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $242.37 million in revenue for the current quarter. 12 analysts expect Shift Technologies Inc. to make $278.59 million in revenue for the quarter ending Sep 2022. Analysts predict that the company’s current quarter sales will jump, forecast at 56.50%.

SFT Dividends

Shift Technologies Inc.’s next quarterly earnings report is expected to be released around March 07 and March 11.

Shift Technologies Inc. (NASDAQ:SFT)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 21.39% of Shift Technologies Inc. shares, and 53.40% of them are in the hands of institutional investors. The stock currently has a share float of 67.92%. Shift Technologies Inc. stock is held by 135 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2022, it held 5.49% of the shares, which is about 4.55 million shares worth $10.0 million.

Nantahala Capital Management, LLC, with 4.97% or 4.12 million shares worth $14.04 million as of Dec 30, 2021, holds the second largest percentage of outstanding shares.

iShares Russell 2000 ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Retail ETF were the top two Mutual Funds as of Jan 30, 2022. The former held 1.43 million shares worth $3.26 million, making up 1.72% of all outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Retail ETF held roughly 1.36 million shares worth around $3.11 million, which represents about 1.64% of the total shares outstanding.

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