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

CarParts.com, Inc. (NASDAQ:PRTS) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 556,400 shares, a drop of 26.9% from the November 15th total of 760,900 shares. Based on an average daily volume of 452,500 shares, the short-interest ratio is currently 1.2 days.

CarParts.com Stock Performance

PRTS traded up $0.01 during mid-day trading on Friday, reaching $0.98. 279,306 shares of the company traded hands, compared to its average volume of 750,986. CarParts.com has a 52-week low of $0.68 and a 52-week high of $3.65. The company’s fifty day moving average price is $0.91 and its 200-day moving average price is $0.96. The company has a quick ratio of 0.57, a current ratio of 1.62 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $56.20 million, a P/E ratio of -1.81 and a beta of 2.04.

CarParts.com (NASDAQ:PRTS) last posted its quarterly earnings data on Tuesday, October 29th. The specialty retailer reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). CarParts.com had a negative return on equity of 29.57% and a negative net margin of 5.11%. The business had revenue of $144.75 million during the quarter.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PRTS. Royal Bank of Canada cut their target price on CarParts.com from $0.90 to $0.80 and set a “sector perform” rating for the company in a research note on Wednesday, October 30th. StockNews.com upgraded CarParts.com from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. bought a new position in shares of CarParts.com in the second quarter worth about $50,000. XTX Topco Ltd boosted its stake in CarParts.com by 41.2% in the 2nd 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. Point72 Asia Singapore Pte. Ltd. purchased a new stake in CarParts.com during the 2nd quarter valued at approximately $93,000. Williams & Novak LLC raised its position in shares of CarParts.com by 11.1% during the third quarter. Williams & Novak LLC now owns 127,100 shares of the specialty retailer’s stock valued at $115,000 after buying an additional 12,650 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of CarParts.com by 73.7% in the second quarter. Dynamic Advisor Solutions LLC now owns 129,327 shares of the specialty retailer’s stock worth $129,000 after buying an additional 54,869 shares in the last quarter. 75.30% of the stock is currently owned by institutional investors.

CarParts.com Company Profile

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.