CarParts.com (NASDAQ:PRTS) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shares of CarParts.com, Inc. (NASDAQ:PRTS) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.63 and traded as high as $0.7950. CarParts.com shares last traded at $0.7891, with a volume of 286,492 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank Of Canada reduced their target price on shares of CarParts.com from $0.60 to $0.50 and set a “sector perform” rating for the company in a report on Friday, March 6th. Weiss Ratings restated a “sell (e+)” rating on shares of CarParts.com in a report on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $0.50.

CarParts.com Price Performance

The stock has a fifty day moving average of $0.61 and a 200 day moving average of $0.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.66 and a quick ratio of 0.49. The stock has a market cap of $55.62 million, a price-to-earnings ratio of -0.92 and a beta of 0.84.

CarParts.com (NASDAQ:PRTS) last posted its quarterly earnings results on Thursday, March 5th. The specialty retailer reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $120.43 million during the quarter, compared to analyst estimates of $118.91 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Partners boosted its holdings in CarParts.com by 195.6% in the second quarter. Boston Partners now owns 439,223 shares of the specialty retailer’s stock valued at $325,000 after purchasing an additional 290,616 shares during the last quarter. Marshall Wace LLP raised its stake 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 valued at $51,000 after buying an additional 53,170 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of CarParts.com during the 2nd quarter valued at about $25,000. North Star Investment Management Corp. lifted its holdings in shares of CarParts.com by 183.3% in the 3rd quarter. North Star Investment Management Corp. now owns 1,387,853 shares of the specialty retailer’s stock valued at $987,000 after buying an additional 897,913 shares during the period. Finally, Argentarii LLC purchased a new stake in shares of CarParts.com in the third quarter worth about $36,000. 75.30% of the stock is currently owned by institutional investors and hedge funds.

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.