CarParts.com (NASDAQ:PRTS) Shares Cross Below 200-Day Moving Average – Should You Sell?

CarParts.com, Inc. (NASDAQ:PRTS)’s stock price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $7.08 and traded as low as $6.50. CarParts.com shares last traded at $6.90, with a volume of 135,533 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings upgraded shares of CarParts.com from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Wall Street Zen upgraded shares of CarParts.com to a “hold” rating in a report on Saturday, October 3rd. Finally, Royal Bank Of Canada upped their price objective on shares of CarParts.com from $6.70 to $7.00 and gave the company a “sector perform” rating in a research report on Friday. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $7.00.

CarParts.com Price Performance

The company has a market cap of $55.68 million, a P/E ratio of -2.33 and a beta of 0.68. The stock has a 50-day simple moving average of $8.17 and a 200 day simple moving average of $7.08. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.66 and a current ratio of 1.67.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings data on Thursday, October 29th. The specialty retailer reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.31. The business had revenue of $129.33 million for the quarter, compared to analysts’ expectations of $124.04 million. CarParts.com had a negative return on equity of 36.78% and a negative net margin of 4.03%.

Insider Buying and Selling

In other CarParts.com news, CEO David Meniane purchased 36,643 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were purchased at an average price of $9.64 per share, for a total transaction of $353,238.52. Following the completion of the purchase, the chief executive officer directly owned 299,414 shares of the company’s stock, valued at approximately $2,886,350.96. This represents a 13.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry Phelps purchased 9,900 shares of the stock in a transaction on Tuesday, August 25th. The stock was acquired at an average cost of $6.48 per share, for a total transaction of $64,152.00. Following the acquisition, the director directly owned 345,788 shares in the company, valued at approximately $2,240,706.24. This trade represents a 2.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 219,823 shares of company stock valued at $2,000,649 over the last ninety days. 6.60% of the stock is owned by company insiders.

Institutional Trading of CarParts.com

A hedge fund recently raised its position in CarParts.com stock. Bank of America Corp DE boosted its holdings in CarParts.com, Inc. (NASDAQ:PRTS) by 249.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,094 shares of the specialty retailer’s stock after acquiring an additional 50,045 shares during the quarter. Bank of America Corp DE owned 0.09% of CarParts.com worth $55,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 75.30% of the company’s stock.

About CarParts.com

CarParts.com, Inc is an e-commerce retailer specializing in replacement and aftermarket automotive parts and accessories. Through its online platform, the company serves owners, do-it-yourself customers, professional installers and collision-repair businesses seeking parts for cars, trucks and sport utility vehicles.

Its product offerings include collision and body components such as bumpers, fenders, hoods, mirrors and lighting, as well as mechanical parts for braking, suspension, steering, engine, transmission, exhaust and cooling systems.