CarLotz (NASDAQ:LOTZ) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of CarLotz (NASDAQ:LOTZ) from a sell rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “CarLotz Inc. provides used vehicle consignment and Retail Remarketing(TM) business which provides corporate vehicle sourcing partners and retail sellers of used vehicles. CarLotz Inc., formerly known as Acamar Partners Acquisition Corp., is based in RICHMOND, Va. “

Separately, Barrington Research downgraded CarLotz from an outperform rating to a market perform rating and set a $6.00 price target for the company. in a report on Thursday, November 11th.

Shares of LOTZ stock opened at $2.08 on Wednesday. The stock has a fifty day moving average of $2.83 and a 200 day moving average of $3.72. CarLotz has a 52 week low of $2.01 and a 52 week high of $12.90. The firm has a market capitalization of $237.08 million, a price-to-earnings ratio of -1.35 and a beta of 0.16. The company has a quick ratio of 4.76, a current ratio of 6.02 and a debt-to-equity ratio of 0.04.

CarLotz (NASDAQ:LOTZ) last posted its quarterly earnings data on Sunday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.18. The business had revenue of $68.04 million during the quarter, compared to the consensus estimate of $55.22 million. CarLotz had a negative return on equity of 31.92% and a negative net margin of 14.14%. Equities research analysts anticipate that CarLotz will post -0.62 earnings per share for the current year.

A number of large investors have recently made changes to their positions in LOTZ. Advisor Group Holdings Inc. boosted its position in CarLotz by 513.3% in the second quarter. Advisor Group Holdings Inc. now owns 67,337 shares of the company’s stock worth $367,000 after purchasing an additional 56,358 shares during the last quarter. New York State Common Retirement Fund purchased a new position in shares of CarLotz during the 2nd quarter valued at about $203,000. Arizona State Retirement System purchased a new position in shares of CarLotz during the 2nd quarter valued at about $101,000. Rhumbline Advisers purchased a new position in CarLotz in the 2nd quarter worth approximately $258,000. Finally, Swiss National Bank purchased a new position in CarLotz in the 2nd quarter worth approximately $821,000. 25.44% of the stock is currently owned by institutional investors and hedge funds.

CarLotz Company Profile

CarLotz, Inc operates as a consignment-to-retail used vehicle marketplace that provides its corporate vehicle sourcing partners and retail sellers of used vehicles. The company serves corporate vehicle sourcing partners, which include fleet leasing companies, rental car companies, banks, captive finance companies, third-party remarketers, wholesalers, companies that manage their own fleets, and original equipment manufacturers; retail sellers of used vehicles to individuals; and retail customers.

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