New York State Common Retirement Fund Takes Position in CarLotz, Inc. (NASDAQ:LOTZ)

New York State Common Retirement Fund purchased a new stake in shares of CarLotz, Inc. (NASDAQ:LOTZ) in the second quarter, HoldingsChannel reports. The institutional investor purchased 37,200 shares of the company’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also modified their holdings of LOTZ. UBS Group AG bought a new stake in CarLotz in the 1st quarter worth approximately $29,000. Penserra Capital Management LLC purchased a new position in shares of CarLotz during the first quarter valued at approximately $66,000. Janney Montgomery Scott LLC purchased a new stake in CarLotz in the first quarter worth $73,000. DAVENPORT & Co LLC purchased a new stake in CarLotz in the second quarter worth $78,000. Finally, PEAK6 Investments LLC purchased a new stake in CarLotz in the first quarter worth $90,000. Hedge funds and other institutional investors own 23.59% of the company’s stock.

LOTZ opened at $3.83 on Tuesday. The stock’s fifty day moving average is $4.26 and its two-hundred day moving average is $5.74. The company has a market capitalization of $435.36 million, a P/E ratio of -1.69 and a beta of 0.16. CarLotz, Inc. has a 52 week low of $3.62 and a 52 week high of $12.90. The company has a quick ratio of 4.75, a current ratio of 5.58 and a debt-to-equity ratio of 0.03.

CarLotz (NASDAQ:LOTZ) last announced its quarterly earnings results on Monday, August 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.03. The company had revenue of $50.77 million during the quarter, compared to analysts’ expectations of $48.83 million. Equities analysts anticipate that CarLotz, Inc. will post -0.75 earnings per share for the current year.

A number of research analysts have recently issued reports on LOTZ shares. William Blair downgraded CarLotz from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 10th. Zacks Investment Research upgraded CarLotz from a “sell” rating to a “hold” rating in a research report on Tuesday, August 3rd. Barrington Research cut their target price on CarLotz from $19.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on CarLotz in a research note on Monday, August 16th. They set a “hold” rating and a $7.00 price target for the company.

CarLotz Company Profile

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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Institutional Ownership by Quarter for CarLotz (NASDAQ:LOTZ)

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