CarParts.com, Inc. (NASDAQ:PRTS) Sees Significant Decline in Short Interest

CarParts.com, Inc. (NASDAQ:PRTS) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 1,606,464 shares, a drop of 21.3% from the December 15th total of 2,041,220 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average trading volume of 1,490,366 shares, the days-to-cover ratio is currently 1.1 days. Based on an average trading volume of 1,490,366 shares, the days-to-cover ratio is currently 1.1 days. Currently, 2.6% of the shares of the stock are sold short.

Institutional Trading of CarParts.com

Several hedge funds have recently added to or reduced their stakes in the business. Williams & Novak LLC grew its position in shares of CarParts.com by 23.8% in the 2nd quarter. Williams & Novak LLC now owns 156,750 shares of the specialty retailer’s stock valued at $116,000 after purchasing an additional 30,100 shares during the period. Jane Street Group LLC bought a new stake in CarParts.com in the 2nd quarter valued at $25,000. Argentarii LLC acquired a new position in CarParts.com in the 3rd quarter worth $36,000. Marshall Wace LLP boosted its stake in CarParts.com by 345.8% in the 2nd quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 53,170 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of CarParts.com by 2.3% during the third quarter. Vanguard Group Inc. now owns 2,554,101 shares of the specialty retailer’s stock worth $1,816,000 after buying an additional 56,857 shares in the last quarter. Institutional investors and hedge funds own 75.30% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $1.85.

CarParts.com Price Performance

Shares of CarParts.com stock traded down $0.01 during trading on Monday, reaching $0.52. The company’s stock had a trading volume of 425,428 shares, compared to its average volume of 1,118,063. The stock has a 50-day moving average price of $0.48 and a two-hundred day moving average price of $0.67. The stock has a market capitalization of $36.14 million, a P/E ratio of -0.54 and a beta of 0.87. The company has a current ratio of 1.71, a quick ratio of 0.59 and a debt-to-equity ratio of 0.49. CarParts.com has a one year low of $0.37 and a one year high of $1.42.

CarParts.com (NASDAQ:PRTS) last posted its quarterly earnings data on Monday, November 10th. The specialty retailer reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. The firm had revenue of $127.77 million for the quarter, compared to the consensus estimate of $142.03 million. CarParts.com had a negative return on equity of 76.33% and a negative net margin of 9.69%.

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.