CarParts.com, Inc. (NASDAQ:PRTS) Short Interest Update

CarParts.com, Inc. (NASDAQ:PRTS) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 853,900 shares, an increase of 52.5% from the March 15th total of 559,900 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 647,600 shares, the short-interest ratio is currently 1.3 days.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PRTS. Craig Hallum upgraded shares of CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Thursday, March 6th. StockNews.com upgraded shares of CarParts.com from a “sell” rating to a “hold” rating in a report on Tuesday, April 1st.

CarParts.com Trading Down 2.0 %

PRTS stock traded down $0.02 during trading on Thursday, reaching $0.80. 77,013 shares of the stock traded hands, compared to its average volume of 608,983. The firm has a market capitalization of $46.87 million, a PE ratio of -1.49 and a beta of 2.04. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 0.57. The business’s 50 day moving average price is $0.98 and its 200-day moving average price is $0.99. CarParts.com has a 52-week low of $0.68 and a 52-week high of $1.45.

CarParts.com (NASDAQ:PRTS) last posted its earnings results on Tuesday, March 25th. The specialty retailer reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.08). The business had revenue of $588.85 million for the quarter, compared to analyst estimates of $141.22 million. CarParts.com had a negative return on equity of 29.57% and a negative net margin of 5.11%.

Institutional Investors Weigh In On CarParts.com

Hedge funds have recently modified their holdings of the stock. Oaktop Capital Management II L.P. lifted its holdings in CarParts.com by 23.4% in the 4th quarter. Oaktop Capital Management II L.P. now owns 4,597,302 shares of the specialty retailer’s stock worth $4,965,000 after buying an additional 872,117 shares in the last quarter. Cannell Capital LLC acquired a new stake in CarParts.com during the 4th quarter valued at approximately $1,249,000. Assenagon Asset Management S.A. increased its holdings in CarParts.com by 145.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 675,371 shares of the specialty retailer’s stock worth $729,000 after purchasing an additional 399,901 shares during the last quarter. Kerrisdale Advisers LLC raised its position in shares of CarParts.com by 19.0% in the 4th quarter. Kerrisdale Advisers LLC now owns 539,257 shares of the specialty retailer’s stock valued at $582,000 after purchasing an additional 86,004 shares in the last quarter. Finally, Manatuck Hill Partners LLC boosted its stake in shares of CarParts.com by 66.7% during the 4th quarter. Manatuck Hill Partners LLC now owns 500,000 shares of the specialty retailer’s stock valued at $540,000 after buying an additional 200,000 shares during the last quarter. 75.30% of the stock is currently owned by hedge funds and other institutional investors.

CarParts.com Company Profile

CarParts.com, Inc, together with its subsidiaries, operates as an online provider of aftermarket auto parts and accessories in the United States and the Philippines. It offers replacement parts, such as parts for the exterior of an automobile; mirror products; engine and chassis components, as well as other mechanical and electrical parts; and performance parts and accessories.