CarParts.com, Inc. (NASDAQ:PRTS) Sees Significant Decrease in Short Interest
by Danessa Lincoln · The Markets DailyCarParts.com, Inc. (NASDAQ:PRTS – Get Free Report) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 935,260 shares, a decline of 29.2% from the February 26th total of 1,321,674 shares. Based on an average daily volume of 1,145,017 shares, the days-to-cover ratio is currently 0.8 days. Approximately 1.5% of the shares of the stock are sold short.
Wall Street Analysts Forecast Growth
PRTS has been the subject of a number of analyst reports. Royal Bank Of Canada dropped their price objective on CarParts.com from $0.60 to $0.50 and set a “sector perform” rating for the company in a research note on Friday, March 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of CarParts.com in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised CarParts.com from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $0.50.
Read Our Latest Stock Analysis on PRTS
CarParts.com Price Performance
Shares of PRTS traded up $0.00 during mid-day trading on Friday, hitting $0.83. 362,510 shares of the stock were exchanged, compared to its average volume of 956,282. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.49 and a current ratio of 1.66. The company has a market cap of $58.15 million, a PE ratio of -0.96 and a beta of 0.84. CarParts.com has a 52-week low of $0.37 and a 52-week high of $1.36. The firm has a 50-day moving average of $0.67 and a two-hundred day moving average of $0.62.
CarParts.com (NASDAQ:PRTS – Get Free Report) last announced its earnings results on Thursday, March 5th. The specialty retailer reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.07. CarParts.com had a negative net margin of 9.21% and a negative return on equity of 79.79%. The firm had revenue of $120.43 million for the quarter, compared to analysts’ expectations of $118.91 million.
Institutional Trading of CarParts.com
Several institutional investors have recently added to or reduced their stakes in PRTS. Jane Street Group LLC bought a new position in CarParts.com in the second quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new stake in CarParts.com during the 4th quarter valued at $25,000. Argentarii LLC purchased a new stake in shares of CarParts.com in the 3rd quarter worth $36,000. Fragasso Financial Advisors Inc purchased a new stake in shares of CarParts.com in the 4th quarter worth $32,000. Finally, Marshall Wace LLP grew its position in shares of CarParts.com by 345.8% during the 2nd quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock worth $51,000 after buying an additional 53,170 shares in the last quarter. Institutional investors own 75.30% of the company’s stock.
About CarParts.com
CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.
Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.