It is Poised to be a Bull Market for CarLotz Inc. (LOTZ)

CarLotz Inc. (NASDAQ: LOTZ) stock jumped 5.05% on Friday to $0.49 against a previous-day closing price of $0.47. With 1.14 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.02 million shares. During the session, the Auto & Truck Dealerships company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.5109 whereas the lowest price it dropped to was $0.4700. The 52-week range on LOTZ shows that it touched its highest point at $4.75 and its lowest point at $0.38 during that stretch. It currently has a 1-year price target of $2.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LOTZ was up-trending over the past week, with a rise of 20.20%, but this was up by 19.21% over a month. Three-month performance dropped to -45.27% while six-month performance fell -77.50%. The stock lost -88.95% in the past year, while it has lost -78.29% so far this year. A look at the trailing 12-month EPS for LOTZ yields -0.44 with Next year EPS estimates of -0.75. For the next quarter, that number is -0.25. This implies an EPS growth rate of -288.80% for this year and 14.90% for next year.

Float and Shares Shorts:

At present, 111.96 million LOTZ shares are outstanding with a float of 98.52 million shares on hand for trading. On Jul 14, 2022, short shares totaled 3.59 million, which was 3.14% higher than short shares on Jun 14, 2022. In addition to Mr. Lev Peker as the firm’s CEO & Director, Mr. Ozan Kaya serves as its Pres.

Institutional Ownership:

Through their ownership of 45.08% of LOTZ’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.71% of LOTZ, in contrast to 35.81% held by mutual funds. Shares owned by individuals account for 18.17%. As the largest shareholder in LOTZ with 3.89% of the stake, BlackRock Fund Advisors holds 4,441,943 shares worth 4,441,943. A second-largest stockholder of LOTZ, Tremblant Capital LP, holds 3,398,050 shares, controlling over 2.98% of the firm’s shares. Rubric Capital Management LP is the third largest shareholder in LOTZ, holding 3,000,000 shares or 2.63% stake. With a 2.76% stake in LOTZ, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 3,153,585 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.79% of LOTZ stock, is the second-largest Mutual Fund holder. It holds 906,418 shares valued at 0.36 million. DWS Global Small Cap Fund holds 0.54% of the stake in LOTZ, owning 613,721 shares worth 0.24 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LOTZ since 1 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With LOTZ analysts setting a high price target of $2.00 and a low target of $2.00, the average target price over the next 12 months is $2.00. Based on these targets, LOTZ could surge 308.16% to reach the target high and rise by 308.16% to reach the target low. Reaching the average price target will result in a growth of 308.16% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. LOTZ will report FY 2022 earnings on 03/13/2023. Analysts have provided yearly estimates in a range of -$1.00 being high and -$1.00 being low. For LOTZ, this leads to a yearly average estimate of -$1.00. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CarLotz Inc. surprised analysts by -$0.03 when it reported -$0.22 EPS against a consensus estimate of -$0.19. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is -$0.25 and the low estimate is -$0.25. The average estimate for the next quarter is thus -$0.25.

Summary of Insider Activity:

Insiders traded LOTZ stock several times over the past three months with 10 Buys and 4 Sells. In these transactions, 342,913 shares were bought while 344,533 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 464,484 while 391,438 shares were sold.

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