CarParts.com (NASDAQ:PRTS) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of CarParts.com, Inc. (NASDAQ:PRTS) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.64 and traded as high as $0.70. CarParts.com shares last traded at $0.6611, with a volume of 654,425 shares traded.

Analysts Set New Price Targets

Several research firms have recently commented on PRTS. Weiss Ratings restated a “sell (e+)” rating on shares of CarParts.com in a research note on Monday, April 20th. Royal Bank Of Canada raised their price target on CarParts.com from $0.50 to $0.60 and gave the company a “sector perform” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised CarParts.com from a “sell” rating to a “hold” rating in a report on Sunday, April 19th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CarParts.com currently has an average rating of “Reduce” and an average price target of $0.60.

CarParts.com Trading Up 1.5%

The stock has a market cap of $53.18 million, a PE ratio of -1.06 and a beta of 0.84. The business’s fifty day moving average is $0.82 and its 200 day moving average is $0.64. The company has a quick ratio of 0.62, a current ratio of 1.67 and a debt-to-equity ratio of 0.52.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings data on Thursday, May 7th. The specialty retailer reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.09. CarParts.com had a negative return on equity of 61.91% and a negative net margin of 6.97%.The firm had revenue of $131.96 million during the quarter, compared to the consensus estimate of $131.38 million.

Hedge Funds Weigh In On CarParts.com

Several hedge funds have recently added to or reduced their stakes in PRTS. Jane Street Group LLC purchased a new position in CarParts.com during the 2nd quarter valued at about $25,000. Cullen Frost Bankers Inc. purchased a new position in CarParts.com during the 4th quarter valued at about $25,000. Fragasso Financial Advisors Inc purchased a new position in CarParts.com during the 4th quarter valued at about $32,000. Marshall Wace LLP increased its holdings in 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 acquiring an additional 53,170 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in CarParts.com by 249.6% during the 1st quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer’s stock valued at $55,000 after acquiring an additional 50,045 shares in the last quarter. 75.30% of the stock is currently owned by hedge funds and other institutional investors.

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.