Motorcar Parts of America (NASDAQ:MPAA) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Motorcar Parts of America, Inc. (NASDAQ:MPAA)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.32 and traded as high as $8.17. Motorcar Parts of America shares last traded at $7.64, with a volume of 79,953 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Motorcar Parts of America in a report on Friday. They issued an “overweight” rating and a $14.00 price target for the company. StockNews.com raised shares of Motorcar Parts of America from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th.

Motorcar Parts of America Stock Up 1.3 %

The business has a fifty day simple moving average of $6.70 and a 200 day simple moving average of $6.34. The company has a current ratio of 1.39, a quick ratio of 0.43 and a debt-to-equity ratio of 0.12.

Insider Activity at Motorcar Parts of America

In related news, Director Bison Capital Partners Vi, L.P bought 50,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $6.86 per share, for a total transaction of $343,000.00. Following the acquisition, the director now directly owns 320,300 shares in the company, valued at approximately $2,197,258. This trade represents a 18.50 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Motorcar Parts of America

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new stake in Motorcar Parts of America in the 3rd quarter valued at $79,000. Privium Fund Management UK Ltd boosted its position in shares of Motorcar Parts of America by 22.4% during the 2nd quarter. Privium Fund Management UK Ltd now owns 27,509 shares of the auto parts company’s stock valued at $163,000 after acquiring an additional 5,038 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Motorcar Parts of America by 24.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 35,003 shares of the auto parts company’s stock valued at $216,000 after purchasing an additional 6,979 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Motorcar Parts of America during the third quarter worth about $281,000. Finally, Perritt Capital Management Inc raised its stake in Motorcar Parts of America by 6.7% during the second quarter. Perritt Capital Management Inc now owns 78,050 shares of the auto parts company’s stock worth $482,000 after purchasing an additional 4,867 shares during the period. Hedge funds and other institutional investors own 83.48% of the company’s stock.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.