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

CarParts.com, Inc. (NASDAQ:PRTS) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 760,900 shares, a drop of 31.5% from the October 31st total of 1,110,000 shares. Based on an average daily trading volume, of 476,700 shares, the short-interest ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in 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 on the stock in a research note on Wednesday, October 30th. StockNews.com raised CarParts.com from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th.

CarParts.com Trading Down 5.5 %

PRTS traded down $0.06 during midday trading on Friday, reaching $0.96. The company had a trading volume of 797,294 shares, compared to its average volume of 769,385. 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 business has a 50-day moving average price of $0.89 and a two-hundred day moving average price of $0.97. CarParts.com has a 12-month low of $0.68 and a 12-month high of $3.65.

CarParts.com (NASDAQ:PRTS) last released its earnings results 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 firm had revenue of $144.75 million during the quarter.

Institutional Investors Weigh In On CarParts.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRTS. Dynamic Advisor Solutions LLC increased its stake 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 purchasing an additional 54,869 shares in the last quarter. GSA Capital Partners LLP grew its stake in CarParts.com by 236.5% in the 3rd quarter. GSA Capital Partners LLP now owns 1,233,829 shares of the specialty retailer’s stock valued at $1,118,000 after buying an additional 867,140 shares in the last quarter. Acadian Asset Management LLC raised its holdings in CarParts.com by 9.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,012,120 shares of the specialty retailer’s stock valued at $2,011,000 after acquiring an additional 173,305 shares during the period. Cullen Frost Bankers Inc. bought a new stake in CarParts.com during the 2nd quarter valued at $50,000. Finally, XTX Topco Ltd lifted its position in shares of CarParts.com by 41.2% during the second quarter. XTX Topco Ltd now owns 68,687 shares of the specialty retailer’s stock worth $69,000 after acquiring an additional 20,037 shares in the last quarter. 75.30% of the stock is currently owned by institutional investors.

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.