Short Interest in CarParts.com, Inc. (NASDAQ:PRTS) Declines By 41.6%

CarParts.com, Inc. (NASDAQ:PRTS) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 937,488 shares, a drop of 41.6% from the December 31st total of 1,606,464 shares. Based on an average trading volume of 1,101,724 shares, the short-interest ratio is currently 0.9 days. Approximately 1.5% of the shares of the stock are sold short. Approximately 1.5% of the shares of the stock are sold short. Based on an average trading volume of 1,101,724 shares, the short-interest ratio is currently 0.9 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $1.85.

Hedge Funds Weigh In On CarParts.com

Several hedge funds and other institutional investors have recently modified their holdings of PRTS. North Star Investment Management Corp. boosted its stake in CarParts.com by 183.3% during 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 purchasing an additional 897,913 shares during the period. Boston Partners raised its stake in CarParts.com by 195.6% during the 2nd quarter. Boston Partners now owns 439,223 shares of the specialty retailer’s stock valued at $325,000 after acquiring an additional 290,616 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in CarParts.com by 20.2% in the third quarter. Mackenzie Financial Corp now owns 1,501,867 shares of the specialty retailer’s stock worth $1,068,000 after purchasing an additional 252,852 shares during the period. Argentarii LLC lifted its holdings in CarParts.com by 200.0% in the fourth quarter. Argentarii LLC now owns 150,000 shares of the specialty retailer’s stock worth $75,000 after purchasing an additional 100,000 shares during the period. Finally, Citadel Advisors LLC increased its stake in CarParts.com by 171.5% during the 3rd quarter. Citadel Advisors LLC now owns 148,771 shares of the specialty retailer’s stock valued at $106,000 after buying an additional 93,971 shares during the period. Institutional investors and hedge funds own 75.30% of the company’s stock.

CarParts.com Trading Up 2.9%

PRTS traded up $0.02 during trading on Friday, hitting $0.53. 723,844 shares of the company’s stock were exchanged, compared to its average volume of 833,675. CarParts.com has a 1 year low of $0.37 and a 1 year high of $1.36. The firm has a market cap of $36.69 million, a P/E ratio of -0.55 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. The stock has a 50 day moving average price of $0.48 and a 200 day moving average price of $0.66.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings results on Monday, November 10th. The specialty retailer reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. CarParts.com had a negative net margin of 9.69% and a negative return on equity of 76.33%. The business had revenue of $127.77 million during the quarter, compared to analyst estimates of $142.03 million.

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.