Shift Technologies Inc. [SFT] Revenue clocked in at $514.10 million, down -15.25% YTD: What’s Next?

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Shift Technologies Inc. [NASDAQ: SFT] slipped around -0.15 points on Wednesday, while shares priced at $2.89 at the close of the session, down -4.93%. The company report on December 13, 2021 that Shift Technologies Announces New $100 million Floorplan Facility.

Shift (Nasdaq: SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced a $100 million committed floorplan facility with Ally Financial Inc. (NYSE:ALLY), a leading digital financial services company. The new floorplan financing relationship expands the companies’ business relationship and has a two-year term, expiring December 9, 2023.


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“Our business is rapidly scaling, with 2021 sales expected to more than triple compared to 2020. As a result, our financing needs have grown as well,” said Oded Shein, Shift’s CFO. “This new facility improves Shift’s capital position, doubling the availability of our previous floor plan, and increases our financial flexibility as we look to accelerate future growth. We are grateful to Ally for their support and confidence in Shift and look forward to a successful relationship.”.

Shift Technologies Inc. stock is now -15.25% down from its year-to-date (YTD) trading value. SFT Stock saw the intraday high of $3.09 and lowest of $2.87 per share. The company’s 52-week high price is 10.90, which means current price is +3.77% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 3.17M shares, SFT reached a trading volume of 3141516 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Shift Technologies Inc. [SFT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SFT shares is $10.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SFT stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Shift Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 07, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on October 05, 2021, representing the official price target for Shift Technologies Inc. stock. Previously, the target price had yet another raise to $12, while Truist analysts kept a Buy rating on SFT stock.

The Average True Range (ATR) for Shift Technologies Inc. is set at 0.31, with the Price to Sales ratio for SFT stock in the period of the last 12 months amounting to 0.45. The Price to Book ratio for the last quarter was 1.93, with the Price to Cash per share for the same quarter was set at 3.09.

How has SFT stock performed recently?

Shift Technologies Inc. [SFT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.17. With this latest performance, SFT shares dropped by -19.27% in over the last four-week period, additionally sinking by -64.80% over the last 6 months – not to mention a drop of -66.00% in the past year of trading.

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 33.57, with the RSI for the last a single of trading hit 34.51, and the three-weeks RSI is set at 32.67 for Shift Technologies Inc. [SFT]. The present Moving Average for the last 50 days of trading for this stock 4.52, while it was recorded at 2.98 for the last single week of trading, and 7.01 for the last 200 days.

Shift Technologies Inc. [SFT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Shift Technologies Inc. [SFT] shares currently have an operating margin of -38.96 and a Gross Margin at +3.91. Shift Technologies Inc.’s Net Margin is presently recorded at -30.22.

Return on Total Capital for SFT is now -38.35, given the latest momentum, and Return on Invested Capital for the company is -30.82. Return on Equity for this stock declined to -30.82, with Return on Assets sitting at -25.39. When it comes to the capital structure of this company, Shift Technologies Inc. [SFT] has a Total Debt to Total Equity ratio set at 5.85. Additionally, SFT Total Debt to Total Capital is recorded at 5.52, with Total Debt to Total Assets ending up at 4.44.

Reflecting on the efficiency of the workforce at the company, Shift Technologies Inc. [SFT] managed to generate an average of -$71,779 per employee. Receivables Turnover for the company is 46.46 with a Total Asset Turnover recorded at a value of 0.84.Shift Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 3.50.

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Insider trade positions for Shift Technologies Inc. [SFT]

There are presently around $106 million, or 54.20% of SFT stock, in the hands of institutional investors. The top three institutional holders of SFT stocks are: NANTAHALA CAPITAL MANAGEMENT, LLC with ownership of 4,474,220, which is approximately -10.55% of the company’s market cap and around 25.60% of the total institutional ownership; BLACKROCK INC., holding 4,220,738 shares of the stock with an approximate value of $12.2 million in SFT stocks shares; and FMR LLC, currently with $11.81 million in SFT stock with ownership of nearly -19.434% of the company’s market capitalization.

Positions in Shift Technologies Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 49 institutional holders increased their position in Shift Technologies Inc. [NASDAQ:SFT] by around 4,288,935 shares. Additionally, 49 investors decreased positions by around 9,196,606 shares, while 13 investors held positions by with 23,346,854 shares. The mentioned changes placed institutional holdings at 36,832,395 shares, according to the latest SEC report filing. SFT stock had 16 new institutional investments in for a total of 717,146 shares, while 14 institutional investors sold positions of 369,853 shares during the same period.