Shift Technologies Inc. [SFT] Is Currently -16.10 below its 200 Period Moving Avg: What Does This Mean?

Shift Technologies Inc. [NASDAQ: SFT] loss -16.10% on the last trading session, reaching $0.18 price per share at the time. The company report on March 7, 2023 that Shift Announces Reverse Stock Split.

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The reverse split is primarily intended to bring the Company into compliance with the minimum bid price requirement for maintaining its listing on Nasdaq. To evidence compliance with this requirement, the closing bid price of the Company’s common stock must be at least $1.00 per share for a minimum of 10 consecutive business days by April 3, 2023.

Shift Technologies Inc. represents 171.15 million in outstanding shares, while the company has a total market value of $29.12 million with the latest information. SFT stock price has been found in the range of $1.711 to $2.116.

If compared to the average trading volume of 3.85M shares, SFT reached a trading volume of 5657833 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Shift Technologies Inc. [SFT]:

JP Morgan have made an estimate for Shift Technologies Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on August 15, 2022. While these analysts kept the previous recommendation, DA Davidson dropped their target price from $2.50 to $1.50. The new note on the price target was released on August 10, 2022, representing the official price target for Shift Technologies Inc. stock.

The Average True Range (ATR) for Shift Technologies Inc. is set at 0.03, with the Price to Sales ratio for SFT stock in the period of the last 12 months amounting to 0.04.

Trading performance analysis for SFT stock

Shift Technologies Inc. [SFT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.89. With this latest performance, SFT shares dropped by -35.53% in over the last four-week period, additionally sinking by -78.42% over the last 6 months – not to mention a drop of -89.51% 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 35.18, with the RSI for the last a single of trading hit 27.59, and the three-weeks RSI is set at 38.99 for Shift Technologies Inc. [SFT]. The present Moving Average for the last 50 days of trading for this stock 0.2217, while it was recorded at 0.2019 for the last single week of trading, and 0.6018 for the last 200 days.

Shift Technologies Inc. [SFT]: A deeper dive into fundamental analysis

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 0.70 and a Current Ratio set at 1.30.

An analysis of insider ownership at Shift Technologies Inc. [SFT]

There are presently around $5 million, or 11.30% of SFT stock, in the hands of institutional investors. The top three institutional holders of SFT stocks are: JEFFERIES GROUP LLC with ownership of 5,794,894, which is approximately 3.571% of the company’s market cap and around 3.40% of the total institutional ownership; VANGUARD GROUP INC, holding 5,232,299 shares of the stock with an approximate value of $0.92 million in SFT stocks shares; and JEFFERIES FINANCIAL GROUP INC., currently with $0.51 million in SFT stock with ownership of nearly New of the company’s market capitalization.

Positions in Shift Technologies Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 19 institutional holders increased their position in Shift Technologies Inc. [NASDAQ:SFT] by around 3,589,810 shares. Additionally, 74 investors decreased positions by around 11,632,731 shares, while 16 investors held positions by with 12,745,630 shares. The mentioned changes placed institutional holdings at 27,968,171 shares, according to the latest SEC report filing. SFT stock had 11 new institutional investments in for a total of 3,115,053 shares, while 31 institutional investors sold positions of 6,881,138 shares during the same period.


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