As of Wednesday, Shift Technologies Inc.’s (NASDAQ:SFT) stock closed at $0.30, down from $0.31 the previous day. While Shift Technologies Inc. has underperformed by -2.28%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SFT fell by -93.68%, with highs and lows ranging from $5.08 to $0.29, whereas the simple moving average fell by -74.00% in the last 200 days.
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On August 15, 2022, JP Morgan Downgraded Shift Technologies Inc. (NASDAQ: SFT) to Underweight. A report published by DA Davidson on August 10, 2022, Downgraded its rating to ‘Neutral’ for SFT. BTIG Research May 04, 2022d its ‘Buy’ rating to ‘Neutral’ for SFT, as published in its report on May 04, 2022. Wells Fargo’s report from May 03, 2022 suggests a price prediction of $2 for SFT shares, giving the stock a ‘Equal Weight’ rating. JP Morgan also rated the stock as ‘Neutral’.
Analysis of Shift Technologies Inc. (SFT)
Further, the quarter-over-quarter decrease in sales is -10.00%, showing a negative trend in the upcoming months.
One of the most important indicators of Shift Technologies Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. Taking into account the quick ratio of the company, currently set at 0.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and SFT is recording 552.78K average volume. On a monthly basis, the volatility of the stock is set at 11.87%, whereas on a weekly basis, it is put at 10.34%, with a loss of -13.64% over the past seven days. Furthermore, long-term investors anticipate a median target price of $4.70, showing growth from the present price of $0.30, which can serve as yet another indication of whether SFT is worth investing in or should be passed over.
How Do You Analyze Shift Technologies Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 7.40%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 22.20% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SFT shares?
The recent increase in stakes in SFT appears to be a result of several institutional investors and hedge funds increasing their positions. Leucadia Asset Management LLC’s position in SFT has increased by 3.57% in the first quarter. The company now owns 5,794,894 shares of the stock, with a value of $3.07 million, following the purchase of 199,800 additional shares during the last quarter. The Vanguard Group, Inc. made another decreased to its shares in SFT during the first quarter, downing its stake by -9.39%. During the last quarter, the company dropped down -248,266 additional shares for a total stake of worth $1.27 million, bringing number of shares owned by the company to 2,396,565.
During the first quarter, BlackRock Fund Advisors subtracted a -13,669 position in SFT. JPMorgan Securities LLC sold an additional -0.16 million shares in the last quarter, decreasing its holdings by -12.55%, now holding 1.13 million shares worth $0.6 million. At the end of the first quarter, Renaissance Technologies LLC increased its SFT holdings by 2.06% and now holds 0.77 million SFT shares valued at $0.41 million with the added 15500.0 shares during the period. SFT shares are owned by institutional investors to the tune of 22.20% at present.