CarParts.com (NASDAQ:PRTS) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of CarParts.com, Inc. (NASDAQ:PRTS) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.12 and traded as high as $8.99. CarParts.com shares last traded at $8.61, with a volume of 37,182 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a report on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $6.00.

CarParts.com Stock Performance

The company has a market cap of $68.76 million, a PE ratio of -1.97 and a beta of 0.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 0.66. The business has a 50-day moving average of $6.71 and a 200 day moving average of $7.13.

CarParts.com (NASDAQ:PRTS) last announced its earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.42. The business had revenue of $135.64 million for the quarter, compared to analysts’ expectations of $129.04 million. CarParts.com had a negative return on equity of 47.19% and a negative net margin of 5.35%.

Insider Buying and Selling

In other CarParts.com news, COO Michael Huffaker bought 36,580 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was bought at an average cost of $9.64 per share, for a total transaction of $352,631.20. Following the completion of the transaction, the chief operating officer owned 139,560 shares of the company’s stock, valued at $1,345,358.40. This represents a 35.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry Phelps bought 9,900 shares of CarParts.com stock in a transaction on Tuesday, August 25th. The shares were acquired at an average cost of $6.48 per share, with a total value of $64,152.00. Following the completion of the acquisition, the director owned 345,788 shares of the company’s stock, valued at $2,240,706.24. The trade was a 2.95% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 219,823 shares of company stock valued at $2,000,649. 6.60% of the stock is owned by insiders.

Institutional Trading of CarParts.com

A number of hedge funds and other institutional investors have recently modified their holdings of PRTS. Bank of America Corp DE lifted its stake in shares of 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 buying an additional 50,045 shares in the last quarter. North Star Investment Management Corp. raised its holdings in CarParts.com by 6.3% during the first quarter. North Star Investment Management Corp. now owns 1,435,853 shares of the specialty retailer’s stock valued at $1,128,000 after acquiring an additional 85,000 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new stake in CarParts.com during the fourth quarter valued at about $25,000. 75.30% of the stock is owned by hedge funds and other institutional investors.

CarParts.com Company Profile

CarParts.com, Inc operates an e-commerce platform that sells automotive parts and accessories primarily to do-it-yourself consumers, professional installers and collision-repair businesses. The company’s product offerings include replacement parts for body, exterior, engine, brake, suspension, steering, drivetrain and electrical systems, as well as vehicle accessories and performance-related products.

The company serves customers across the United States through its CarParts.com website and related online channels.