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

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

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft cut their price target on shares of CarLotz from $3.00 to $2.00 in a research note on Tuesday, May 10th.

CarLotz Stock Performance

Shares of CarLotz stock opened at $0.54 on Friday. CarLotz has a one year low of $0.38 and a one year high of $4.75. The company has a market cap of $61.56 million, a PE ratio of -1.25 and a beta of 0.69. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.27 and a current ratio of 4.15. The business has a 50-day simple moving average of $0.47 and a 200-day simple moving average of $1.10.

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

Insider Activity at CarLotz

In related news, CEO Lev Peker sold 78,971 shares of the business’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $0.47, for a total value of $37,116.37. Following the sale, the chief executive officer now directly owns 203,444 shares in the company, valued at approximately $95,618.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 118,039 shares of company stock worth $56,498. Company insiders own 37.20% of the company’s stock.

Hedge Funds Weigh In On CarLotz

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOTZ. Dupont Capital Management Corp boosted its holdings in CarLotz by 6.2% in the fourth quarter. Dupont Capital Management Corp now owns 92,169 shares of the company’s stock valued at $209,000 after purchasing an additional 5,384 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of CarLotz during the fourth quarter worth approximately $54,000. Pinnacle Associates Ltd. purchased a new stake in shares of CarLotz during the fourth quarter worth approximately $45,000. New York State Common Retirement Fund raised its stake in shares of CarLotz by 101.8% during the fourth quarter. New York State Common Retirement Fund now owns 34,015 shares of the company’s stock worth $77,000 after purchasing an additional 17,157 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of CarLotz during the fourth quarter worth approximately $250,000. 40.72% of the stock is owned by institutional investors and hedge funds.

CarLotz Company Profile

(Get Rating)

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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