Barrington Research downgraded CarLotz from Outperform to Market Perform
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/11/2021 | Outperform → Market Perform | Barrington Research | |
| 11/11/2021 | $6.00 | Outperform → Mkt Perform | Barrington Research |
| 8/16/2021 | $7.00 | Hold | Deutsche Bank |
| 8/10/2021 | Outperform → Mkt Perform | William Blair |
Ozan Kaya Named President Eugene Kovshilovsky Named Chief Technology Officer RICHMOND, Va., March 31, 2022 (GLOBE NEWSWIRE) -- CarLotz (("The Company" or "CarLotz", NASDAQ:LOTZ), a leading consignment-to-retail used vehicle marketplace, today announced the appointment of Ozan Kaya to the role of President, a new role at the Company, and Eugene Kovshilovsky to the role of Chief Technology Officer. Mr. Kaya's appointment will be effective April 25, 2022, and Mr. Kovshilovsky's appointment will be effective April 17, 2022. Mr. Kaya and Mr. Kovshilovsky will report to incoming-CEO Lev Peker. "On behalf of the Company and incoming-CEO, Lev Peker, I am extremely pleased to welcome Ozan and Eu
Brand Velocity Group (BVG), an innovative private equity firm, today announced that Eric Grib has joined the firm as a Principal. Grib brings to BVG over 15 years of experience in private equity, corporate M&A, and investment banking across sectors such as consumer, media, technology, sports, and entertainment. "BVG's strategy of driving the growth of its portfolio companies through deep in-house marketing resources, connectivity to sports and entertainment, and focus on human capital very much aligns with my core strengths and philosophy," said Grib. "I'm excited to be a part of a team that approaches private equity investing in truly creative and thoughtful ways." Prior to joining BVG,
RICHMOND, Va., March 15, 2022 (GLOBE NEWSWIRE) -- CarLotz ("CarLotz" or the "Company"), a leading consignment-to-retail used vehicle marketplace, announced today the appointment of Lev Peker to the role of Chief Executive Officer, effective April 18, 2022. "Lev brings to CarLotz an exceptional blend of senior executive leadership experience, proven industry capabilities in online retail and a track record of shareholder value creation," said Luis Solorzano, Chairman of the Board for CarLotz. "We believe Lev's record of success as a CEO, with acumen in marketing, operations, and finance, and a history leading a consumer facing, technology-enabled, and operationally complex business, make
Third Quarter Revenue of $50.8 millionThird Quarter Retail Unit Sales of 1,375Third Quarter GPU increased 62% to $1,524 RICHMOND, Va., Nov. 08, 2022 (GLOBE NEWSWIRE) -- CarLotz, Inc. ((the "Company" or "CarLotz", NASDAQ:LOTZ), a consignment-to-retail used vehicle marketplace, today announced financial results for the third quarter ended September 30, 2022. Third Quarter 2022 Financial Results Net revenue was $50.8 million compared to $68.0 million in the same period in 2021Retail unit sales were 1,375 compared to 2,490 in the same period in 2021Finance & insurance revenue was $1.7 million compared to $2.6 million in the same period in 2021Gross profit was $(0.6) million, primarily due
Shift to merge with CarLotz, a leading used vehicle consignment business; combined company estimated to have approximately $125 million of cash if the merger closes at the end of the year Shift is transitioning to a new business plan focused on transacting most sales through its most profitable online checkout channel, which allows consumers to purchase a vehicle online, sight unseen, for pickup or delivery. Updated financial model enables positive unit economics in 2023 and company-wide profitability in 2024 Current Shift President Jeff Clementz to serve as CEO effective September 1 SAN FRANCISCO, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT), a leading end
Second Quarter Revenue Grew 51% versus Last Year to $76.5 millionSecond Quarter Retail Unit Sales of 2,421Second Quarter F&I Revenue Grew 80% versus Last Year RICHMOND, Va., Aug. 09, 2022 (GLOBE NEWSWIRE) -- CarLotz, Inc. ((the "Company" or "CarLotz", NASDAQ:LOTZ), a consignment-to-retail used vehicle marketplace, today announced financial results for the second quarter ended June 30, 2022. Second Quarter 2022 Financial Results Net revenue increased 51% to $76.5 million from $50.8 million in the same period in 2021Retail unit sales increased 21% to 2,421 from 2,009 in the same period in 2021Finance & insurance revenue increased 80% to $3.2 million from $1.8 million in the s
Barrington Research downgraded CarLotz from Outperform to Market Perform
Barrington Research downgraded CarLotz from Outperform to Mkt Perform and set a new price target of $6.00
Deutsche Bank initiated coverage of CarLotz with a rating of Hold and set a new price target of $7.00
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SAN FRANCISCO, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, has closed its merger with CarLotz, Inc. (NASDAQ:LOTZ), a leading consignment-to-retail used vehicle marketplace. The combined company will continue to trade on Nasdaq under the ticker SFT. CarLotz shareholders at the effective time of the merger will receive approximately 0.705 shares of Shift common stock for each share of CarLotz common stock, or approximately 84.4 million shares of Shift common stock in the aggregate. Shift will also assume certain warrants an
RICHMOND, Va., Dec. 07, 2022 (GLOBE NEWSWIRE) -- CarLotz, Inc. ((the "Company" or "CarLotz", NASDAQ:LOTZ), a consignment-to-retail used vehicle marketplace, is pleased to announce that today the Company's stockholders approved the Agreement and Plan of Merger, dated August 9, 2022, among Shift Technologies, Inc. ("Shift"), Shift Remarketing Operations, Inc. ("Merger Sub") and the Company, pursuant to which, among other things and subject to the terms and conditions contained therein, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and as a wholly owned subsidiary of Shift (the "Merger"). The proposal to approve the Merger Agreement
Third Quarter Revenue of $50.8 millionThird Quarter Retail Unit Sales of 1,375Third Quarter GPU increased 62% to $1,524 RICHMOND, Va., Nov. 08, 2022 (GLOBE NEWSWIRE) -- CarLotz, Inc. ((the "Company" or "CarLotz", NASDAQ:LOTZ), a consignment-to-retail used vehicle marketplace, today announced financial results for the third quarter ended September 30, 2022. Third Quarter 2022 Financial Results Net revenue was $50.8 million compared to $68.0 million in the same period in 2021Retail unit sales were 1,375 compared to 2,490 in the same period in 2021Finance & insurance revenue was $1.7 million compared to $2.6 million in the same period in 2021Gross profit was $(0.6) million, primarily due
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