Shift Technologies Inc. (SFT) Shares: Cheap or Risky?

Shift Technologies Inc. (NASDAQ:SFT) saw an upside of 2.30% to close Tuesday at $6.66 after adding $0.15 on the day. The 5-day average trading volume is 970,920 shares of the company’s common stock. It has gained $7.01 in the past week. An average of 1,404,990 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,477,208.

SFT’s 1-month performance is -15.37% or -$1.47 on its low of $6.48 reached on 10/12/21. The company’s shares have touched a 52-week low of $6.16 and high of $12.75, with the stock’s rally to the 52-week high happening on 02/09/21. YTD, SFT has lost -19.47% or -$1.61. However, the current price is down -47.76%% from the 52-week high price.


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Insider Transactions

On May 27, 139 days have gone by since the last insider trading activity for Shift Technologies Inc. (SFT). Arison George (See Remarks) most recently sold 8 shares at $7.14 per share on May 27. This transaction cost the insider $57.

Shift Technologies Inc.’s quick ratio for the period ended June 29 was 3.00, with the current ratio over the same period at 4.40 meaning that SFT stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.97, while the total debt to equity was 1.30. In terms of profitability, the gross margin trailing 12 months is 7.30%. The trailing 12-month EBITDA margin is -36.64% while for the period ending June 29; Shift Technologies Inc.’s operating margin was -33.10%. The firm’s gross profit as reported stood at $12.18 million against revenue of $195.72 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected SFT to announce -$0.44 per share in earnings in its latest quarter, but it posted -$0.41, representing a 6.80% surprise. EBITDA for the quarter stood at more than -$31.66 million. SFT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 254.18 million, with total debt at $193.45 million. Shareholders hold equity totaling $84.18 million

Technical Picture

Let’s look briefly at Shift Technologies Inc. (SFT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 34.83% to suggest the stock is trending Neutral, with historical volatility in this time period at 34.94%.

The stock’s 5-day moving average is $6.67, reflecting a -1.62% or -$0.11 change from its current price. SFT is currently trading -13.73% above its 20-day SMA, -11.67% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -22.20% and -27.45% respectively.

Stochastic %K and %D was 14.54% and 14.74% and the average true range (ATR) pointed at 0.29. The RSI (14) points at 36.00%, while the 14-day stochastic is at 11.73% with the period’s ATR at 0.31. The stock’s 9-day MACD Oscillator is pointing at -0.12 and -0.40 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Shift Technologies Inc. (NASDAQ: SFT), JP Morgan launched coverage with an Overweight rating. Analysts offering their rating for SFT stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate SFT as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 11 have offered a “buy” rating.

What is SFT’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $9.00 and a high of $17.00, with their median price target at $13.00. Looking at these predictions, the average price target given by analysts is for Shift Technologies Inc. (SFT) stock is $13.18.

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