Shift Technologies Inc. [SFT] Revenue clocked in at $135.60 million, down -27.10% YTD: What’s Next?

Shift Technologies Inc. [NASDAQ: SFT] stock went on a downward path that fall over -26.29% on Friday, amounting to a one-week price decrease of less than -16.11%. The company report on November 12, 2020 that Shift Announces a Record $60 Million in Revenue for the Third Quarter 2020.

Over 4,000 total units sold in the quarter.

Achieved $3.7 million in Gross Profit and grew Adjusted Gross Profit 156% Year-over-Year to $3.9 million.

The average equity rating for SFT stock is currently 1.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $812.03 million, with 82.11 million shares outstanding and 30.08 million shares in the current float. Compared to the average trading volume of 411.40K shares, SFT stock reached a trading volume of 6067440 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Shift Technologies Inc. [SFT]:

Wedbush have made an estimate for Shift Technologies Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on November 13, 2020.

The Average True Range (ATR) for Shift Technologies Inc. is set at 0.91, with the Price to Sales ratio for SFT stock in the period of the last 12 months amounting to 5.99. The Price to Book ratio for the last quarter was 0.28, with the Price to Cash per share for the same quarter was set at 0.00.

SFT Stock Performance Analysis:

Shift Technologies Inc. [SFT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.11. With this latest performance, SFT shares dropped by -36.16% in over the last four-week period, additionally sinking by -31.16% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SFT stock in for the last two-week period is set at 30.20, with the RSI for the last a single of trading hit 28.54, and the three-weeks RSI is set at 31.83 for Shift Technologies Inc. [SFT]. The present Moving Average for the last 50 days of trading for this stock 10.94, while it was recorded at 8.82 for the last single week of trading.

Insight into Shift Technologies Inc. Fundamentals:

Shift Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.

Shift Technologies Inc. [SFT] Insider Position Details

There are presently around $76 million, or 16.70% of SFT stock, in the hands of institutional investors. The top three institutional holders of SFT stocks are: FMR LLC with ownership of 1,745,118, which is approximately New of the company’s market cap and around 23.20% of the total institutional ownership; MAGNETAR FINANCIAL LLC, holding 1,200,000 shares of the stock with an approximate value of $8.75 million in SFT stocks shares; and DAVIDSON KEMPNER CAPITAL MANAGEMENT LP, currently with $5.71 million in SFT stock with ownership of nearly New of the company’s market capitalization.

36 institutional holders increased their position in Shift Technologies Inc. [NASDAQ:SFT] by around 6,993,833 shares. Additionally, 31 investors decreased positions by around 6,304,557 shares, while 2 investors held positions by with 2,881,319 shares. The mentioned changes placed institutional holdings at 10,417,071 shares, according to the latest SEC report filing. SFT stock had 26 new institutional investments in for a total of 6,171,398 shares, while 21 institutional investors sold positions of 3,154,795 shares during the same period.

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