Shift Technologies Inc. (SFT) can make a big difference with a little luck

Shift Technologies Inc. (NASDAQ: SFT) stock jumped 7.89% on Monday to $0.20 against a previous-day closing price of $0.19. With 2.08 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.87 million shares. During the session, the Auto & Truck Dealerships company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.2000 whereas the lowest price it dropped to was $0.1900. The 52-week range on SFT shows that it touched its highest point at $2.84 and its lowest point at $0.13 during that stretch. It currently has a 1-year price target of $3.14. Beta for the stock currently stands at 1.42.

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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 SFT was down-trending over the past week, with a drop of -8.44%, but this was up by 23.29% over a month. Three-month performance dropped to -60.34% while six-month performance fell -80.43%. The stock lost -90.89% in the past year, while it has gained 34.05% so far this year. A look at the trailing 12-month EPS for SFT yields -2.96 with Next year EPS estimates of -1.24. For the next quarter, that number is -0.31. This implies an EPS growth rate of -202.00% for this year and 50.00% for next year.

Float and Shares Shorts:

At present, 171.15 million SFT shares are outstanding with a float of 151.54 million shares on hand for trading. On Oct 13, 2022, short shares totaled 12.9 million, which was 15.07% higher than short shares on Sep 14, 2022. In addition to Mr. George Arison as the firm’s Co-Founder & Chairman, Mr. Tobias Russell serves as its Co-Founder, Director & Strategic Advisor.

Institutional Ownership:

Through their ownership of 28.20% of SFT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.10% of SFT, in contrast to 28.09% held by mutual funds. Shares owned by individuals account for 23.85%. As the largest shareholder in SFT with 6.77% of the stake, Leucadia Asset Management LLC holds 5,794,894 shares worth 5,794,894. A second-largest stockholder of SFT, The Vanguard Group, Inc., holds 5,192,508 shares, controlling over 6.07% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in SFT, holding 2,367,290 shares or 2.77% stake. With a 4.06% stake in SFT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 3,473,050 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.88% of SFT stock, is the second-largest Mutual Fund holder. It holds 1,605,873 shares valued at 0.24 million. Fidelity Extended Market Index Fu holds 0.74% of the stake in SFT, owning 629,829 shares worth 93845.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SFT since 5 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 4 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 SFT analysts setting a high price target of $1.00 and a low target of $0.25, the average target price over the next 12 months is $0.63. Based on these targets, SFT could surge 400.0% to reach the target high and rise by 25.0% to reach the target low. Reaching the average price target will result in a growth of 215.0% 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. SFT will report FY 2022 earnings on 03/13/2024. Analysts have provided yearly estimates in a range of -$2.14 being high and -$2.69 being low. For SFT, this leads to a yearly average estimate of -$2.37. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Shift Technologies Inc. surprised analysts by -$0.48 when it reported -$0.92 EPS against a consensus estimate of -$0.44. The surprise factor in the prior quarter was -$0.08. Based on analyst estimates, the high estimate for the next quarter is -$0.21 and the low estimate is -$0.39. The average estimate for the next quarter is thus -$0.32.

Summary of Insider Activity:

Insiders traded SFT stock several times over the past three months with 6 Buys and 5 Sells. In these transactions, 5,715,635 shares were bought while 364,011 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 7,094,143 while 3,084,309 shares were sold.

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