CarParts.com, Inc. (NASDAQ:PRTS) Short Interest Up 21.0% in January

CarParts.com, Inc. (NASDAQ:PRTS) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 660,900 shares, an increase of 21.0% from the December 31st total of 546,100 shares. Based on an average daily trading volume, of 502,100 shares, the short-interest ratio is currently 1.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. purchased a new stake in shares of CarParts.com in the fourth quarter worth about $27,000. XTX Topco Ltd boosted its stake in shares of CarParts.com by 14.9% in the 3rd quarter. XTX Topco Ltd now owns 78,917 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 10,230 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of CarParts.com during the second quarter worth $93,000. Williams & Novak LLC grew its stake in CarParts.com by 11.1% in the third quarter. Williams & Novak LLC now owns 127,100 shares of the specialty retailer’s stock valued at $115,000 after purchasing an additional 12,650 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of CarParts.com by 40.1% during the third quarter. Assenagon Asset Management S.A. now owns 275,470 shares of the specialty retailer’s stock worth $250,000 after purchasing an additional 78,866 shares during the period. Institutional investors and hedge funds own 75.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PRTS. StockNews.com raised shares of CarParts.com from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Royal Bank of Canada reduced their price target on shares of CarParts.com from $0.90 to $0.80 and set a “sector perform” rating for the company in a report on Wednesday, October 30th.

CarParts.com Stock Performance

PRTS stock traded up $0.01 during midday trading on Monday, reaching $1.17. The stock had a trading volume of 413,235 shares, compared to its average volume of 523,073. The firm has a fifty day simple moving average of $1.08 and a two-hundred day simple moving average of $0.96. CarParts.com has a 52-week low of $0.68 and a 52-week high of $2.87. The stock has a market cap of $67.16 million, a PE ratio of -2.17 and a beta of 2.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.57 and a current ratio of 1.62.

About CarParts.com

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.