DA Davidson Lowers Shift Technologies (NASDAQ:SFT) Price Target to $1.50

Shift Technologies (NASDAQ:SFTGet Rating) had its price target cut by stock analysts at DA Davidson to $1.50 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. DA Davidson’s price target would suggest a potential upside of 331.78% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. William Blair cut shares of Shift Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 21st. Truist Financial downgraded Shift Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 3rd. JPMorgan Chase & Co. lowered Shift Technologies from a “neutral” rating to an “underweight” rating in a research report on Monday, August 15th. Oppenheimer downgraded Shift Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 10th. Finally, Cantor Fitzgerald downgraded Shift Technologies from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $2.50 to $0.90 in a report on Friday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $4.77.

Shift Technologies Stock Down 7.1 %

Shares of NASDAQ:SFT opened at $0.35 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 0.73 and a debt-to-equity ratio of 7.01. The firm has a market cap of $29.73 million, a price-to-earnings ratio of -0.12 and a beta of 1.59. The stock’s 50-day moving average price is $0.60 and its two-hundred day moving average price is $0.86. Shift Technologies has a 12-month low of $0.33 and a 12-month high of $6.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Adviser Investments LLC lifted its position in shares of Shift Technologies by 354.6% in the 1st quarter. Adviser Investments LLC now owns 55,708 shares of the company’s stock worth $123,000 after buying an additional 43,454 shares during the last quarter. SG Americas Securities LLC bought a new position in Shift Technologies in the first quarter worth about $1,543,000. GSA Capital Partners LLP bought a new position in Shift Technologies in the first quarter worth about $246,000. IndexIQ Advisors LLC acquired a new position in Shift Technologies in the first quarter valued at approximately $371,000. Finally, Bank of America Corp DE grew its holdings in shares of Shift Technologies by 92.7% during the first quarter. Bank of America Corp DE now owns 60,804 shares of the company’s stock valued at $134,000 after purchasing an additional 29,254 shares during the last quarter. Institutional investors own 28.24% of the company’s stock.

About Shift Technologies

(Get Rating)

Shift Technologies, Inc, together with its subsidiaries, provides an ecommerce platform for buying and selling used cars. The company operates in two segments, Retail and Wholesale. It engages in the retail sale of used vehicles through its platform that enables mobile digital transaction, such as at-home 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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