CarParts.com (NASDAQ:PRTS) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of CarParts.com, Inc. (NASDAQ:PRTS) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.98 and traded as high as $1.12. CarParts.com shares last traded at $0.98, with a volume of 619,812 shares trading hands.

Wall Street Analyst Weigh In

Separately, Craig Hallum raised CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research note on Thursday, March 6th.

CarParts.com Price Performance

The company has a fifty day simple moving average of $1.12 and a two-hundred day simple moving average of $0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.57 and a current ratio of 1.62. The company has a market capitalization of $59.12 million, a price-to-earnings ratio of -1.91 and a beta of 2.11.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PRTS. GSA Capital Partners LLP raised its holdings in CarParts.com by 236.5% in the 3rd quarter. GSA Capital Partners LLP now owns 1,233,829 shares of the specialty retailer’s stock valued at $1,118,000 after acquiring an additional 867,140 shares during the last quarter. FMR LLC raised its holdings in CarParts.com by 26.6% in the 3rd quarter. FMR LLC now owns 426,441 shares of the specialty retailer’s stock valued at $386,000 after acquiring an additional 89,645 shares during the last quarter. XTX Topco Ltd raised its holdings in 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 acquiring an additional 10,230 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in CarParts.com by 145.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 675,371 shares of the specialty retailer’s stock valued at $729,000 after acquiring an additional 399,901 shares during the last quarter. Finally, Williams & Novak LLC increased its holdings in shares of CarParts.com by 19.2% during the 4th quarter. Williams & Novak LLC now owns 151,500 shares of the specialty retailer’s stock worth $164,000 after buying an additional 24,400 shares during the last quarter. 75.30% of the stock is currently owned by institutional investors and hedge funds.

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.