CarParts.com, Inc. (NASDAQ:PRTS) Sees Significant Growth in Short Interest

CarParts.com, Inc. (NASDAQ:PRTS) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 853,900 shares, an increase of 52.5% from the March 15th total of 559,900 shares. Based on an average daily trading volume, of 647,600 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.6% of the shares of the company are short sold.

Analyst Ratings Changes

Several research analysts have weighed in on PRTS shares. StockNews.com upgraded CarParts.com from a “sell” rating to a “hold” rating in a research note on Tuesday, April 1st. Craig Hallum raised shares of CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Thursday, March 6th.

CarParts.com Price Performance

NASDAQ:PRTS traded down $0.02 during trading hours on Thursday, hitting $0.80. The company’s stock had a trading volume of 77,013 shares, compared to its average volume of 608,983. The company has a market capitalization of $46.87 million, a PE ratio of -1.49 and a beta of 2.04. CarParts.com has a 52-week low of $0.68 and a 52-week high of $1.45. The business’s 50-day moving average is $0.98 and its two-hundred day moving average is $0.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.57 and a current ratio of 1.62.

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

Institutional Trading of CarParts.com

Large investors have recently bought and sold shares of the company. Cannell Capital LLC acquired a new stake in CarParts.com in the 4th quarter valued at about $1,249,000. Oaktop Capital Management II L.P. grew its position in shares of CarParts.com by 23.4% in the fourth quarter. Oaktop Capital Management II L.P. now owns 4,597,302 shares of the specialty retailer’s stock valued at $4,965,000 after purchasing an additional 872,117 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of CarParts.com by 145.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 675,371 shares of the specialty retailer’s stock worth $729,000 after purchasing an additional 399,901 shares in the last quarter. AMH Equity Ltd acquired a new position in shares of CarParts.com during the 4th quarter worth approximately $368,000. Finally, Mackenzie Financial Corp acquired a new position in shares of CarParts.com during the 4th quarter worth approximately $264,000. Institutional investors and hedge funds own 75.30% of the company’s stock.

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.