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

CarParts.com, Inc. (NASDAQ:PRTS) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 559,900 shares, a decline of 16.5% from the February 28th total of 670,800 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average trading volume of 584,500 shares, the short-interest ratio is currently 1.0 days.

Hedge Funds Weigh In On CarParts.com

A number of hedge funds have recently made changes to their positions in the business. Thompson Davis & CO. Inc. acquired a new stake in CarParts.com in the 4th quarter valued at $27,000. Raymond James Financial Inc. purchased a new stake in shares of CarParts.com in the fourth quarter worth about $39,000. Squarepoint Ops LLC acquired a new stake in shares of CarParts.com in the fourth quarter valued at about $71,000. XTX Topco Ltd raised its holdings in shares of CarParts.com by 14.9% during the 3rd quarter. XTX Topco Ltd now owns 78,917 shares of the specialty retailer’s stock valued at $72,000 after buying an additional 10,230 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of CarParts.com by 8.6% during the 4th quarter. Northern Trust Corp now owns 138,525 shares of the specialty retailer’s stock valued at $150,000 after buying an additional 10,954 shares during the period. Hedge funds and other institutional investors own 75.30% of the company’s stock.

CarParts.com Trading Down 0.6 %

Shares of CarParts.com stock traded down $0.01 during trading hours on Tuesday, reaching $0.99. The stock had a trading volume of 324,936 shares, compared to its average volume of 721,902. The firm has a market capitalization of $57.03 million, a price-to-earnings ratio of -1.84 and a beta of 2.11. CarParts.com has a 1 year low of $0.68 and a 1 year high of $1.66. The company has a current ratio of 1.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.10. The firm has a 50 day simple moving average of $1.08 and a two-hundred day simple moving average of $1.00.

CarParts.com (NASDAQ:PRTS) last posted its quarterly earnings results on Tuesday, March 25th. The specialty retailer reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.08). The business had revenue of $588.85 million during the quarter, compared to analysts’ expectations of $141.22 million. CarParts.com had a negative net margin of 5.11% and a negative return on equity of 29.57%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PRTS. Craig Hallum upgraded CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a report on Thursday, March 6th. StockNews.com upgraded CarParts.com from a “sell” rating to a “hold” rating in a report on Tuesday.

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.