Cantor Fitzgerald began coverage on shares of Shift Technologies (NASDAQ:SFT) in a report released on Thursday, Price Targets.com reports. The firm issued an overweight rating and a $15.00 target price on the stock.
SFT has been the subject of several other research reports. Benchmark upgraded Shift Technologies from a hold rating to a buy rating and set a $13.00 target price for the company in a research report on Tuesday, March 9th. Piper Sandler began coverage on Shift Technologies in a research report on Friday, June 4th. They issued an overweight rating and a $14.00 target price for the company. Wells Fargo & Company reiterated a buy rating on shares of Shift Technologies in a research report on Sunday, February 21st. Wedbush upgraded Shift Technologies from an underperform rating to a neutral rating in a research report on Tuesday, May 4th. Finally, Zacks Investment Research lowered Shift Technologies from a hold rating to a sell rating in a research report on Tuesday, May 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $14.86.
Shares of NASDAQ SFT opened at $8.33 on Thursday. Shift Technologies has a fifty-two week low of $6.16 and a fifty-two week high of $14.91. The company’s 50 day simple moving average is $7.85. The firm has a market cap of $700.92 million, a price-to-earnings ratio of -2.01 and a beta of 0.71.
In related news, insider George Arison purchased 10,008 shares of the business’s stock in a transaction that occurred on Thursday, May 27th. The shares were acquired at an average price of $7.12 per share, with a total value of $71,256.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 10.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. NEXT Financial Group Inc bought a new stake in Shift Technologies during the 1st quarter valued at $25,000. Sowell Financial Services LLC bought a new stake in Shift Technologies during the 1st quarter valued at $35,000. Wells Fargo & Company MN bought a new stake in Shift Technologies during the 4th quarter valued at $96,000. Walleye Trading LLC bought a new stake in Shift Technologies during the 1st quarter valued at $114,000. Finally, Paloma Partners Management Co bought a new stake in Shift Technologies during the 4th quarter valued at $138,000. 36.22% of the stock is currently owned by institutional investors and hedge funds.
About Shift Technologies
Shift Technologies, Inc provides end-to-end auto ecommerce platform for buying and selling of used cars. The company operates through two segments, Retail and Wholesale. It engages in the retail sale of used vehicles through its platform that enables mobile digital transaction, such as car searching, scheduling an on-demand test drive, and purchasing at home or at the preferred site of a test drive, as well as provides financing and services.
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