CarLotz, Inc. (NASDAQ:LOTZ – Get Rating) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,900,000 shares, a decrease of 27.5% from the August 15th total of 4,000,000 shares. Based on an average daily volume of 2,580,000 shares, the days-to-cover ratio is currently 1.1 days. Approximately 3.8% of the company's stock are short sold.
CarLotz Stock Performance
Shares of CarLotz stock traded down $0.02 during trading hours on Friday, hitting $0.38. 535,431 shares of the company's stock traded hands, compared to its average volume of 669,290. CarLotz has a 12-month low of $0.38 and a 12-month high of $4.75. The stock has a market capitalization of $43.65 million, a price-to-earnings ratio of -0.56 and a beta of 0.66. The company has a fifty day simple moving average of $0.46 and a 200-day simple moving average of $0.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.99 and a quick ratio of 2.53.
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Insider Transactions at CarLotz
In related news, CEO Lev Peker sold 78,971 shares of the stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $0.47, for a total value of $37,116.37. Following the completion of the sale, the chief executive officer now directly owns 203,444 shares of the company's stock, valued at approximately $95,618.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 98,618 shares of company stock valued at $46,147 over the last ninety days. 24.80% of the stock is owned by company insiders.
Institutional Investors Weigh In On CarLotz
Several large investors have recently made changes to their positions in the business. Rafferty Asset Management LLC grew its stake in shares of CarLotz by 92.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 66,380 shares of the company's stock worth $26,000 after acquiring an additional 31,926 shares during the period. ProShare Advisors LLC bought a new position in shares of CarLotz during the 4th quarter worth $36,000. Envestnet Asset Management Inc. grew its stake in shares of CarLotz by 36.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 30,288 shares of the company's stock worth $69,000 after acquiring an additional 8,082 shares during the period. Corsair Capital Management L.P. bought a new position in shares of CarLotz during the 4th quarter worth $85,000. Finally, Dupont Capital Management Corp grew its stake in shares of CarLotz by 94.3% during the 2nd quarter. Dupont Capital Management Corp now owns 287,210 shares of the company's stock worth $113,000 after acquiring an additional 139,387 shares during the period. 23.61% of the stock is owned by hedge funds and other institutional investors.
About CarLotz
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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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