CarParts.com, Inc. (NASDAQ:PRTS) Short Interest Update

CarParts.com, Inc. (NASDAQ:PRTS) saw a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 1,321,674 shares, an increase of 15.8% from the February 12th total of 1,141,130 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average trading volume of 544,834 shares, the short-interest ratio is currently 2.4 days. Based on an average trading volume of 544,834 shares, the short-interest ratio is currently 2.4 days. Currently, 2.1% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

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

CarParts.com Stock Down 3.3%

Shares of NASDAQ:PRTS opened at $0.77 on Thursday. The company has a market capitalization of $54.11 million, a price-to-earnings ratio of -0.89 and a beta of 0.84. CarParts.com has a 12-month low of $0.37 and a 12-month high of $1.36. The business has a 50-day moving average price of $0.63 and a 200 day moving average price of $0.62. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.58.

CarParts.com (NASDAQ:PRTS) last announced its earnings results on Thursday, March 5th. The specialty retailer reported ($0.17) earnings per share for the quarter, topping the consensus estimate 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 Trading of CarParts.com

Several institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in CarParts.com during the second quarter worth $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of CarParts.com during the fourth quarter worth $25,000. Fragasso Financial Advisors Inc acquired a new stake in shares of CarParts.com in the fourth quarter valued at $32,000. Argentarii LLC purchased a new stake in shares of CarParts.com in the 3rd quarter valued at $36,000. Finally, Marshall Wace LLP raised its holdings in shares of CarParts.com by 345.8% in 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 period. Institutional investors and hedge funds own 75.30% of the company’s stock.

CarParts.com Company Profile

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.