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CarLotz, Inc. (LOTZ)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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7.28-0.06 (-0.82%)
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Neutralpattern detected
Previous Close7.50
Open7.50
Bid7.21 x 4000
Ask7.24 x 4000
Day's Range7.21 - 7.58
52 Week Range6.45 - 12.90
Volume1,898,829
Avg. Volume5,392,048
Market Cap834.339M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateMay 10, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • CarLotz, Inc. Announces First Quarter 2021 Earnings Release Date, Conference Call and Webcast
    GlobeNewswire

    CarLotz, Inc. Announces First Quarter 2021 Earnings Release Date, Conference Call and Webcast

    Company to Hold Conference Call on May 10, 2021RICHMOND, Va., April 09, 2021 (GLOBE NEWSWIRE) -- CarLotz, Inc. (NASDAQ: LOTZ) (“CarLotz” or the “Company”), a leading consignment-to-retail used vehicle marketplace, will release its first quarter 2021 results after the U.S. stock market closes on May 10, 2021. The Company will hold a conference call to discuss the business update at 5:30 p.m. (Eastern Time) that day. The U.S. toll free dial-in for the conference call is 1-833-962-1461, and the international dial-in number is 1-929-517-0392. The Conference ID is 8006869. A live webcast of the conference call will also be available on the investor relations page of the Company's website at https://investors.carlotz.com. For those unable to participate in the conference call, a replay will be available after the conclusion of the call on May 10, 2021 through May 17, 2021. The U.S. toll-free replay dial-in number is 1-855-859-2056, and the international replay dial-in number is 1-404-537-3406. The replay passcode is 8006869. About CarLotz, Inc. CarLotz is a used vehicle consignment and Retail Remarketing™ business that provides our corporate vehicle sourcing partners and retail sellers of used vehicles with the ability to access the previously unavailable retail sales channel, while simultaneously providing buyers with prices that are, on average, below those of traditional dealerships. Our mission is to create the world’s greatest vehicle buying and selling experience. We operate a technology-enabled buying, sourcing, and selling model that offers a seamless omnichannel experience and comprehensive selection of vehicles, while allowing for a fully contactless end-to-end e-commerce interface that enables no-hassle buying and selling. Our proprietary Retail Remarketing™ technology provides our corporate vehicle sourcing partners with real-time performance metrics and data analytics, along with custom business intelligence reporting that enables price and vehicle triage optimization between the wholesale and retail channels. Through our marketplace model, we generate significant value for both sellers and buyers through price, selection, and experience. Investor Contact: CarLotzIR@icrinc.com

  • CarLotz Nashville: Now Open
    GlobeNewswire

    CarLotz Nashville: Now Open

    CarLotz’s one-of-a-kind, omnichannel, used-car offering is now available in the Volunteer State CarLotz Nashville CarLotz further expands its nationwide presence with its newest hub in the Volunteer State. For a list of locations visit carlotz.com/locations. RICHMOND, Va., March 29, 2021 (GLOBE NEWSWIRE) -- CarLotz (NASDAQ: LOTZ), the nation’s largest consignment-to-retail used vehicle marketplace, announced today it has opened its first Tennessee hub. The Nashville-area hub, located at 1821 Gallatin Pike N. in Madison, TN, marks the ninth southeast opening for CarLotz and its 11th nationwide, adding to its hubs in Virginia, North Carolina, Florida, Illinois, Texas, and Washington State. CarLotz is on a mission to create the world’s greatest vehicle buying and selling experience for its customers. “Whether you’re in music or medicine, we love serving communities like Nashville that are made up of so many interesting, passionate people,” said Michael Bor, Founder and CEO of CarLotz. “We are excited to bring our unique business model to the community and to demonstrate how CarLotz puts more value back into the hands of buyers and sellers,” Bor continued. “Our wide range of inventory means we have a car for every type of person, no matter their life stage, and we are thrilled to be a part of this vibrant Nashville community.” Why should consumers buy or sell a vehicle at CarLotz? CarLotz’s one-of-a-kind consignment-to-retail sales model allows the Company to put more value back in the hands of buyers and sellers.If a consumer has a vehicle they are thinking of retiring, they can trade it in, CarLotz can buy it, or the owner can consign it through the Company for thousands of dollars more. Sales coaches are non-commissioned, and CarLotz prices are haggle-free, so the Company’s only job is to make sure buyers leave happy with the vehicle they want. Consumers can shop how they want: Buyers can purchase a vehicle online and CarLotz will deliver it, or they can come in, work with the Company’s highly trained sales coaches in person and test-drive their next vehicle before purchasing it. CarLotz offers financing for all, and everyone has three days to exchange their purchase for any reason. The Company also offers a 30-day warranty, just in case. In addition to its Nashville opening, CarLotz recently announced it will open its fourth Virginia hub in Charlottesville, further expanding its full omnichannel offering in its home state and continuing its ambitious growth plan. CarLotz is actively hiring for a variety of team roles, including sales coaches, service techs, and managers at the new Nashville location. To learn more and apply, visit carlotz.com/careers or reach out to careers@carlotz.com. For additional information, visit carlotz.com. About CarLotz CarLotz is a used vehicle consignment and Retail Remarketing™ business that provides our corporate vehicle sourcing partners and retail sellers of used vehicles with the ability to access the previously unavailable retail sales channel, while simultaneously providing buyers with prices that are, on average, below those of traditional dealerships. Our mission is to create the world’s greatest vehicle buying and selling experience. We operate a technology-enabled buying, sourcing, and selling model that offers a seamless omnichannel experience and comprehensive selection of vehicles, while allowing for a fully contactless end-to-end e-commerce interface that enables no-hassle buying and selling. Our proprietary Retail Remarketing™ technology provides our corporate vehicle sourcing partners with real-time performance metrics and data analytics, along with custom business intelligence reporting that enables price and vehicle triage optimization between the wholesale and retail channels. Through our marketplace model, we generate significant value for both sellers and buyers through price, selection, and experience. CONTACTS: Media InquiriesCarLotzPR@icrinc.com leslie.griles@carlotz.com Investor Inquiries CarLotzIR@icrinc.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/326aafce-b222-40c8-b92f-e8d0cc51b2cd

  • Buy CarLotz Stock at $8 Before It Jumps 175%, Says Analyst
    TipRanks

    Buy CarLotz Stock at $8 Before It Jumps 175%, Says Analyst

    When a company wants to refresh its car fleet, the first it must do is get rid of the cars it already has, and make some room in the corporate parking lot. Historically, this happens on one of two ways: First, the company puts its cars through an auto auction, or sells them in bulk to a wholesaler. Then, a retailer buys those cars at wholesale prices. Finally, the retailer spiffs them up, marks them up, and sells them to you, the consumer. But are all three steps really necessary? That's the question CarLotz, Inc. (LOTZ) asked when it set up shop a year ago (And its answer was "no"). Instead, CarLotz built a consignment-to-retail business in which "corporate vehicle sourcing partners" (fleet leasing companies, rental car companies, banks, and other corporations often found in possession of large numbers of cars that they want to unload quickly), hand their inventory over to CarLotz. Then CarLotz does any necessary reconditioning itself, and sells the cars directly to consumers, collecting fees worth between $1200 and $1700 on each vehicle sold. Barrington analyst Gary Prestopino points out that CarLotz is "the only" company taking such a consignment-to-retail approach to car buying in the United States. As the analyst explained, CarLotz's business model "disintermediates wholesalers, wholesale auctions and dealers ... while offering retail customers an omni-channel experience for vehicle purchases." In simpler terms, CarLotz cuts out the middle man, and permits car buyers to buy more or less directly from corporate fleets that are looking to unload their old cars -- with sales conducted either in-person or online. In so doing, notes Prestopino, CarLotz is able to pay its corporate clients "on average $1,000 more per unit" sold, while saving consumers $500 to $1,000 on cars they buy, relative to the prices charged by traditional used car businesses. You can see how that would be an attractive proposition to both sides of the equation. And indeed, it's turning out that way. From 2017 through 2020, CarLotz's revenues surged nearly three-fold in size, to just under $119 million. The company isn't yet profitable, but its losses did fall by half between 2019 and 2020. And CarLotz is continuing to grow, with Prestopino noting the company plans to open 14 to 16 sales "hubs" (combining reconditioning facilities, consignment centers, and showrooms) in 2021, and more than 40 by the end of 2023 -- versus just 10 hubs that it has at present. Even then, that probably won't be the end of this growth story. By 2023, Prestopino projects that CarLotz will be moving metal at the rate of 80,000 units per year. That would be almost 13x the amount of business it is doing today -- but still only by about 1.1% of total corporate fleet resales that year. And this implies that after quadrupling over the next three years, there will be still the potential to grow nearly another 100x in size. So ... how much is this opportunity worth? Rating CarLotz stock "outperform," Prestopino sees the stock surging from its current share price of $8 to $22 over the course of the next year. This leaves room for a 175% upside potential (To watch Prestopino's track record, click here) CarLotz summed up , "We believe that CarLotz offers a compelling value proposition for both vehicle buyers and sellers offering a transformation growth opportunity in used vehicle retailing with a business model that is disintermediating traditional means of used vehicle remarketing. The company is rolling out a national presence to drive a network effect that should enhance shareholder value on a long-term basis." Judging from the consensus breakdown, it has been relatively quiet when it comes to other analyst activity. Over the last three months, only 2 analysts have reviewed LOTZ. Both of which, however, were bullish, making the consensus a Moderate Buy. On top of this, the $22 average price target puts the upside potential at 178%. (See LOTZ stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.