Shift Technologies (NASDAQ:SFT) Stock Price Up 2.5%

Shift Technologies, Inc. (NASDAQ:SFT)’s stock price rose 2.5% during trading on Monday . The company traded as high as $1.23 and last traded at $1.23. Approximately 210,500 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 295,178 shares. The stock had previously closed at $1.20.

Shift Technologies Stock Performance

The firm has a market cap of $20.81 million, a P/E ratio of -0.10 and a beta of 1.77. The business’s 50-day simple moving average is $1.79 and its 200 day simple moving average is $1.52.

Shift Technologies (NASDAQ:SFT) last issued its quarterly earnings results on Thursday, August 10th. The company reported ($1.44) earnings per share for the quarter, topping the consensus estimate of ($1.85) by $0.41. The business had revenue of $47.26 million for the quarter, compared to analysts’ expectations of $59.07 million. As a group, equities research analysts expect that Shift Technologies, Inc. will post -3.58 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in shares of Shift Technologies during the 2nd quarter worth $37,000. HB Wealth Management LLC purchased a new position in shares of Shift Technologies during the 2nd quarter valued at $123,000. Balyasny Asset Management L.P. purchased a new position in shares of Shift Technologies during the 1st quarter valued at $29,000. CIBC Asset Management Inc purchased a new position in shares of Shift Technologies during the 1st quarter valued at $32,000. Finally, Millennium Management LLC lifted its stake in shares of Shift Technologies by 54.2% during the 4th quarter. Millennium Management LLC now owns 508,885 shares of the company’s stock valued at $76,000 after buying an additional 178,918 shares in the last quarter. Hedge funds and other institutional investors own 11.34% of the company’s stock.

Shift Technologies Company Profile

Shift Technologies, Inc, together with its subsidiaries, provides an ecommerce platform for buying and selling used cars in the United States. The company operates in two segments, Retail and Wholesale. It engages in the retail sale of used vehicles through its platform; and provides financing and vehicle protection products.