Shift Technologies Inc. (NASDAQ:SFT) has a beta value of 1.42 and has seen 2.08 million shares traded in the last trading session. The company, currently valued at $33.55M, closed the last trade at $0.20 per share which meant it gained $0.01 on the day or 7.89% during that session. The SFT stock price is -1320.0% off its 52-week high price of $2.84 and 35.0% above the 52-week low of $0.13. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.27 million shares traded. The 3-month trading volume is 1.87 million shares.
The consensus among analysts is that Shift Technologies Inc. (SFT) is a Hold stock at the moment, with a recommendation rating of 3.20. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 4 out of 5 have rated it as a Hold, with 0 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.43.
Shift Technologies Inc. (NASDAQ:SFT) trade information
Sporting 7.89% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the SFT stock price touched $0.20 or saw a rise of 9.09%. Year-to-date, Shift Technologies Inc. shares have moved 34.05%, while the 5-day performance has seen it change -8.44%. Over the past 30 days, the shares of Shift Technologies Inc. (NASDAQ:SFT) have changed 23.29%. Short interest in the company has seen 12.9 million shares shorted with days to cover at 24.66.
Wall Street analysts have a consensus price target for the stock at $0.63, which means that the shares’ value could jump 68.25% from current levels. The projected low price target is $0.25 while the price target rests at a high of $1.00. In that case, then, we find that the current price level is -400.0% off the targeted high while a plunge would see the stock gain -25.0% from current levels.
Shift Technologies Inc. (SFT) estimates and forecasts
Figures show that Shift Technologies Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -80.43% over the past 6 months, with this year growth rate of 4.31%, compared to -5.90% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 10.40% and 50.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 11.60%.
7 analysts offering their estimates for the company have set an average revenue estimate of $143.71 million for the current quarter. 7 have an estimated revenue figure of $124.05 million for the next quarter concluding in Dec 2022.
Shift Technologies Inc. is expected to release its next earnings report between March 13 and March 17 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Shift Technologies Inc. (NASDAQ:SFT)’s Major holders
Insiders own 23.77% of the company shares, while shares held by institutions stand at 28.20% with a share float percentage of 36.99%. Investors are also buoyed by the number of investors in a company, with Shift Technologies Inc. having a total of 94 institutions that hold shares in the company. The top two institutional holders are Jefferies Group LLC with over 5.6 million shares worth more than $3.77 million. As of Jun 29, 2022, Jefferies Group LLC held 6.60% of shares outstanding.
The other major institutional holder is Nantahala Capital Management, LLC, with the holding of over 2.66 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $1.79 million and represent 3.14% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. As of Jun 29, 2022, the former fund manager holds about 1.89% shares in the company for having 1.6 million shares of worth $1.08 million while later fund manager owns 0.96 million shares of worth $0.65 million as of Jun 29, 2022, which makes it owner of about 1.14% of company’s outstanding stock.