Shift Technologies Inc. [SFT] fell -61.88% so far this year. What now?

Shift Technologies Inc. [NASDAQ: SFT] closed the trading session at $1.30 on 08/10/22. The day’s price range saw the stock hit a low of $1.18, while the highest price level was $1.50. The company report on August 9, 2022 that Shift Announces Upcoming CEO Transition.

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Current President Jeff Clementz Appointed CEO and Member of the Board of Directors Effective September 1.

Shift Technologies, Inc. (Nasdaq: SFT) and its Board of Directors announced today that Co-Founder and CEO George Arison will be stepping down as CEO effective September 1, 2022, and will be succeeded by the President of Shift, Jeff Clementz. Mr. Arison will continue in his role as Chairman of the Board of Directors.

The stocks have a year to date performance of -61.88 percent and weekly performance of 10.17 percent. The stock has been moved at -35.64 percent over the last six months. The stock has performed 28.71 percent around the most recent 30 days and changed 4.84 percent over the most recent 3-months.

If compared to the average trading volume of 2.81M shares, SFT reached to a volume of 4706740 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $5.15 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 2.40. 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.

DA Davidson have made an estimate for Shift Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 10, 2022. The new note on the price target was released on July 21, 2022, representing the official price target for Shift Technologies Inc. stock.

The Average True Range (ATR) for Shift Technologies Inc. is set at 0.15, with the Price to Sales ratio for SFT stock in the period of the last 12 months amounting to 0.12. The Price to Book ratio for the last quarter was 5.20, with the Price to Cash per share for the same quarter was set at 1.32.

SFT stock trade performance evaluation

Shift Technologies Inc. [SFT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.17. With this latest performance, SFT shares gained by 28.71% in over the last four-week period, additionally sinking by -35.64% over the last 6 months – not to mention a drop of -86.07% 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 59.46, with the RSI for the last a single of trading hit 59.36, and the three-weeks RSI is set at 57.74 for Shift Technologies Inc. [SFT]. The present Moving Average for the last 50 days of trading for this stock 0.9628, while it was recorded at 1.3400 for the last single week of trading, and 2.4306 for the last 200 days.

Shift Technologies Inc. [SFT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Shift Technologies Inc. [SFT] shares currently have an operating margin of -27.77 and a Gross Margin at +6.78. Shift Technologies Inc.’s Net Margin is presently recorded at -26.11.

Return on Equity for this stock declined to -106.43, with Return on Assets sitting at -49.06.

Shift Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.80.

Shift Technologies Inc. [SFT]: Insider Ownership positions

There are presently around $35 million, or 40.00% of SFT stock, in the hands of institutional investors. The top three institutional holders of SFT stocks are: BLACKROCK INC. with ownership of 4,545,929, which is approximately 3.358% of the company’s market cap and around 8.20% of the total institutional ownership; NANTAHALA CAPITAL MANAGEMENT, LLC, holding 3,730,912 shares of the stock with an approximate value of $4.85 million in SFT stocks shares; and VANGUARD GROUP INC, currently with $3.89 million in SFT stock with ownership of nearly 13.14% of the company’s market capitalization.

Positions in Shift Technologies Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 35 institutional holders increased their position in Shift Technologies Inc. [NASDAQ:SFT] by around 3,652,046 shares. Additionally, 52 investors decreased positions by around 13,563,865 shares, while 17 investors held positions by with 9,636,760 shares. The mentioned changes placed institutional holdings at 26,852,671 shares, according to the latest SEC report filing. SFT stock had 13 new institutional investments in for a total of 507,473 shares, while 24 institutional investors sold positions of 6,466,688 shares during the same period.


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