Short Interest in CarLotz, Inc. (NASDAQ:LOTZ) Drops By 15.3%

CarLotz, Inc. (NASDAQ:LOTZGet Rating) saw a large drop in short interest in July. As of July 15th, there was short interest totalling 3,590,000 shares, a drop of 15.3% from the June 30th total of 4,240,000 shares. Based on an average trading volume of 2,010,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 4.7% of the shares of the company are short sold.

CarLotz Stock Performance

LOTZ stock opened at $0.54 on Friday. The company has a market cap of $61.56 million, a P/E ratio of -1.25 and a beta of 0.69. CarLotz has a twelve month low of $0.38 and a twelve month high of $4.75. The company has a quick ratio of 3.27, a current ratio of 4.15 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average is $0.47 and its 200-day moving average is $1.10.

CarLotz (NASDAQ:LOTZGet Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.02). The business had revenue of $63.01 million for the quarter, compared to analyst estimates of $73.39 million. CarLotz had a negative return on equity of 41.40% and a negative net margin of 18.76%. During the same period in the previous year, the business posted ($0.15) EPS. Equities research analysts forecast that CarLotz will post -0.94 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft reduced their price target on CarLotz from $3.00 to $2.00 in a research report on Tuesday, May 10th.

Insider Transactions at CarLotz

In other news, CEO Lev Peker sold 78,971 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $0.47, for a total value of $37,116.37. Following the sale, the chief executive officer now owns 203,444 shares of the company’s stock, valued at approximately $95,618.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 118,039 shares of company stock worth $56,498. 37.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CarLotz

Large investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC bought a new position in CarLotz during the 4th quarter worth about $36,000. Pinnacle Associates Ltd. bought a new position in CarLotz during the fourth quarter worth about $45,000. Landscape Capital Management L.L.C. acquired a new stake in CarLotz during the fourth quarter worth approximately $54,000. Envestnet Asset Management Inc. lifted its position in CarLotz by 36.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 30,288 shares of the company’s stock worth $69,000 after acquiring an additional 8,082 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of CarLotz by 101.8% in the fourth quarter. New York State Common Retirement Fund now owns 34,015 shares of the company’s stock valued at $77,000 after buying an additional 17,157 shares in the last quarter. Institutional investors own 40.72% of the company’s stock.

About CarLotz

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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, vehicle rental companies, banks, finance companies, third-party remarketers, wholesalers, corporations managing their own fleets, and original equipment manufacturers; retail sellers of used vehicles to individuals; and retail customers.

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