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

CarParts.com, Inc. (NASDAQ:PRTS) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 733,300 shares, a growth of 22.8% from the August 15th total of 597,200 shares. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is currently 0.7 days.

CarParts.com Price Performance

NASDAQ PRTS remained flat at $0.85 on Monday. The company’s stock had a trading volume of 221,082 shares, compared to its average volume of 856,394. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.51 and a current ratio of 1.67. The stock has a market capitalization of $48.24 million, a P/E ratio of -3.15 and a beta of 2.05. The stock’s fifty day moving average is $0.95 and its two-hundred day moving average is $1.22. CarParts.com has a 52-week low of $0.72 and a 52-week high of $4.26.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings results on Tuesday, July 30th. The specialty retailer reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.05). The business had revenue of $144.27 million during the quarter. CarParts.com had a negative net margin of 3.75% and a negative return on equity of 21.44%. During the same quarter in the previous year, the business earned ($0.01) EPS.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PRTS. Royal Bank of Canada reissued a “sector perform” rating and set a $1.30 price target (down previously from $2.00) on shares of CarParts.com in a research report on Wednesday, July 31st. StockNews.com lowered CarParts.com from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Lake Street Capital cut their price target on CarParts.com from $3.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.33.

Institutional Investors Weigh In On CarParts.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in CarParts.com during the 1st quarter worth $33,000. Oxford Asset Management LLP acquired a new position in CarParts.com in the fourth quarter valued at about $47,000. Cullen Frost Bankers Inc. acquired a new position in CarParts.com in the second quarter valued at about $50,000. XTX Topco Ltd lifted its position in CarParts.com by 41.2% during the second quarter. XTX Topco Ltd now owns 68,687 shares of the specialty retailer’s stock worth $69,000 after purchasing an additional 20,037 shares during the period. Finally, Aristides Capital LLC acquired a new stake in CarParts.com during the fourth quarter worth about $80,000. 75.30% of the stock is currently owned by institutional investors and hedge funds.

About CarParts.com

CarParts.com, Inc, together with its subsidiaries, operates as an online provider of aftermarket auto parts and accessories in the United States and the Philippines. It offers replacement parts, such as parts for the exterior of an automobile; mirror products; engine and chassis components, as well as other mechanical and electrical parts; and performance parts and accessories.