CarLotz (NASDAQ:LOTZ) Sees Strong Trading Volume

CarLotz, Inc. (NASDAQ:LOTZ) shares saw strong trading volume on Wednesday . 90,104 shares were traded during trading, a decline of 98% from the previous session’s volume of 4,051,029 shares.The stock last traded at $7.39 and had previously closed at $7.09.

Several analysts have recently issued reports on the company. Barrington Research reduced their target price on CarLotz from $19.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, May 26th. William Blair assumed coverage on CarLotz in a research note on Tuesday, February 16th. They issued an “outperform” rating on the stock. Finally, Zacks Investment Research lowered CarLotz from a “hold” rating to a “sell” rating in a research note on Wednesday, April 21st.

The stock’s 50 day moving average price is $6.43. The firm has a market capitalization of $680.88 million, a price-to-earnings ratio of -2.64 and a beta of 0.16. The company has a quick ratio of 10.33, a current ratio of 10.70 and a debt-to-equity ratio of 0.01.

CarLotz (NASDAQ:LOTZ) last released its quarterly earnings data on Monday, May 10th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The company had revenue of $56.61 million during the quarter, compared to analyst estimates of $44.10 million. Equities analysts predict that CarLotz, Inc. will post -0.82 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. UBS Group AG acquired a new stake in shares of CarLotz during the first quarter valued at about $29,000. Heritage Wealth Advisors acquired a new stake in shares of CarLotz during the first quarter valued at about $36,000. Penserra Capital Management LLC acquired a new stake in shares of CarLotz during the first quarter valued at about $66,000. Janney Montgomery Scott LLC acquired a new stake in shares of CarLotz during the first quarter valued at about $73,000. Finally, PEAK6 Investments LLC acquired a new stake in shares of CarLotz during the first quarter valued at about $90,000. 28.26% of the stock is currently owned by hedge funds and other institutional investors.

About CarLotz (NASDAQ:LOTZ)

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, rental car companies, banks, captive finance companies, third-party remarketers, wholesalers, companies that manage their own fleets, and original equipment manufacturers; retail sellers of used vehicles to individuals; and retail customers.

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