CarParts.com (NASDAQ:PRTS) Stock Rating Lowered by StockNews.com

CarParts.com (NASDAQ:PRTS) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Separately, Craig Hallum upgraded shares of CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research report on Thursday, March 6th.

CarParts.com Stock Performance

Shares of PRTS stock traded up $0.13 during midday trading on Monday, hitting $1.09. The company had a trading volume of 830,766 shares, compared to its average volume of 711,104. The stock has a market cap of $62.57 million, a price-to-earnings ratio of -2.02 and a beta of 2.11. 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 company’s 50 day simple moving average is $1.11 and its 200 day simple moving average is $0.99. CarParts.com has a 52-week low of $0.68 and a 52-week high of $1.68.

Institutional Investors Weigh In On CarParts.com

A number of institutional investors have recently added to or reduced their stakes in PRTS. Oaktop Capital Management II L.P. raised its stake in shares of CarParts.com by 23.4% during 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 position in CarParts.com during the fourth quarter worth $1,249,000. Assenagon Asset Management S.A. raised its position in CarParts.com by 145.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 675,371 shares of the specialty retailer’s stock worth $729,000 after acquiring an additional 399,901 shares in the last quarter. Kerrisdale Advisers LLC lifted its holdings in CarParts.com by 19.0% in the fourth quarter. Kerrisdale Advisers LLC now owns 539,257 shares of the specialty retailer’s stock valued at $582,000 after acquiring an additional 86,004 shares during the period. Finally, Manatuck Hill Partners LLC lifted its holdings in CarParts.com by 66.7% in the fourth quarter. Manatuck Hill Partners LLC now owns 500,000 shares of the specialty retailer’s stock valued at $540,000 after acquiring an additional 200,000 shares during the period. Hedge funds and other institutional investors own 75.30% of the company’s stock.

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.