CarParts.com, Inc. (NASDAQ:PRTS) Short Interest Down 16.5% in March

CarParts.com, Inc. (NASDAQ:PRTS) saw 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. Based on an average daily trading volume, of 584,500 shares, the short-interest ratio is currently 1.0 days. Approximately 1.0% of the shares of the company are short sold.

CarParts.com Price Performance

Shares of PRTS stock traded up $0.05 during trading hours on Wednesday, hitting $1.04. 536,928 shares of the company’s stock were exchanged, compared to its average volume of 722,394. CarParts.com has a 52 week low of $0.68 and a 52 week high of $1.66. The stock has a market cap of $60.63 million, a price-to-earnings ratio of -1.93 and a beta of 2.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 0.57. The stock’s 50-day moving average is $1.08 and its 200-day moving average is $1.00.

CarParts.com (NASDAQ:PRTS) last posted its quarterly earnings data on Tuesday, March 25th. The specialty retailer reported ($0.27) earnings per share 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.

Wall Street Analyst Weigh In

PRTS has been the subject of several research reports. StockNews.com raised CarParts.com from a “sell” rating to a “hold” rating in a research report on Tuesday. Craig Hallum raised shares of CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Thursday, March 6th.

Institutional Trading of CarParts.com

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd boosted its position in CarParts.com by 14.9% in 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 last quarter. Northern Trust Corp boosted its holdings in CarParts.com by 8.6% in the fourth quarter. Northern Trust Corp now owns 138,525 shares of the specialty retailer’s stock valued at $150,000 after acquiring an additional 10,954 shares during the last quarter. Williams & Novak LLC increased its position in CarParts.com by 19.2% in the fourth quarter. Williams & Novak LLC now owns 151,500 shares of the specialty retailer’s stock worth $164,000 after purchasing an additional 24,400 shares during the period. Thompson Davis & CO. Inc. bought a new stake in CarParts.com during the 4th quarter worth about $27,000. Finally, Raymond James Financial Inc. acquired a new position in CarParts.com during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 75.30% of the company’s stock.

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.