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

CarParts.com, Inc. (NASDAQ:PRTS) was the recipient of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 402,255 shares, a decline of 85.1% from the May 14th total of 2,700,947 shares. Based on an average trading volume of 82,258 shares, the days-to-cover ratio is currently 4.9 days. Currently, 5.3% of the shares of the company are short sold.

CarParts.com Stock Performance

Shares of PRTS stock traded up $0.57 on Thursday, reaching $6.52. The stock had a trading volume of 95,693 shares, compared to its average volume of 73,053. The stock has a market cap of $52.54 million, a P/E ratio of -1.05 and a beta of 0.70. CarParts.com has a 1 year low of $3.72 and a 1 year high of $13.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.62 and a current ratio of 1.67. The company has a 50 day simple moving average of $7.55 and a 200 day simple moving average of $6.48.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings results on Thursday, May 7th. The specialty retailer reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.15) by $1.12. The firm had revenue of $131.96 million for the quarter, compared to the consensus estimate of $131.38 million. CarParts.com had a negative return on equity of 61.91% and a negative net margin of 6.97%.

Analyst Upgrades and Downgrades

PRTS has been the topic of several research reports. Royal Bank Of Canada raised their target price on shares of CarParts.com from $5.00 to $6.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Wall Street Zen raised CarParts.com from a “sell” rating to a “hold” rating in a report on Sunday, April 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of CarParts.com in a research note on Monday, April 20th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, CarParts.com has a consensus rating of “Reduce” and a consensus target price of $6.00.

Institutional Investors Weigh In On CarParts.com

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in CarParts.com in the 2nd quarter worth $25,000. Cullen Frost Bankers Inc. bought a new stake in CarParts.com during the fourth quarter valued at about $25,000. Fragasso Financial Advisors Inc bought a new stake in CarParts.com during the fourth quarter valued at about $32,000. Marshall Wace LLP increased its position in CarParts.com by 345.8% in the second quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock worth $51,000 after buying an additional 53,170 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of CarParts.com by 249.6% in the first quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer’s stock worth $55,000 after buying an additional 50,045 shares during the period. 75.30% of the stock is currently owned by hedge funds and other institutional investors.

About CarParts.com

CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.

Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.