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

CarParts.com, Inc. (NASDAQ:PRTS) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 733,300 shares, a growth of 22.8% from the August 15th total of 597,200 shares. Based on an average daily trading volume, of 1,080,000 shares, the short-interest ratio is presently 0.7 days.

CarParts.com Trading Up 0.2 %

Shares of PRTS stock traded up $0.00 on Tuesday, reaching $0.85. The company had a trading volume of 14,069 shares, compared to its average volume of 851,688. The stock has a market cap of $48.34 million, a PE ratio of -3.15 and a beta of 2.05. CarParts.com has a 12 month low of $0.72 and a 12 month high of $4.26. The company has a current ratio of 1.67, a quick ratio of 0.51 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average of $0.94 and a 200-day moving average of $1.21.

CarParts.com (NASDAQ:PRTS) last issued its earnings results on Tuesday, July 30th. The specialty retailer reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). CarParts.com had a negative net margin of 3.75% and a negative return on equity of 21.44%. The firm had revenue of $144.27 million during the quarter. During the same quarter last year, the firm posted ($0.01) earnings per share.

Institutional Trading of CarParts.com

Several large investors have recently bought and sold shares of the business. Acadian Asset Management LLC raised its position in CarParts.com by 46.4% during the 1st quarter. Acadian Asset Management LLC now owns 1,838,815 shares of the specialty retailer’s stock worth $2,978,000 after purchasing an additional 582,376 shares during the last quarter. Wasatch Advisors LP raised its position in shares of CarParts.com by 56.2% during the fourth quarter. Wasatch Advisors LP now owns 1,472,946 shares of the specialty retailer’s stock worth $4,655,000 after purchasing an additional 529,767 shares during the period. Oaktop Capital Management II L.P. increased its position in shares of CarParts.com by 11.5% during the fourth quarter. Oaktop Capital Management II L.P. now owns 3,725,185 shares of the specialty retailer’s stock worth $11,772,000 after acquiring an additional 383,426 shares in the last quarter. Isthmus Partners LLC increased its holdings in CarParts.com by 109.0% during the 1st quarter. Isthmus Partners LLC now owns 699,053 shares of the specialty retailer’s stock worth $1,132,000 after purchasing an additional 364,600 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in CarParts.com by 24.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,198,500 shares of the specialty retailer’s stock valued at $1,198,000 after acquiring an additional 232,500 shares in the last quarter. 75.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on PRTS. Lake Street Capital lowered their target price on CarParts.com from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com downgraded shares of CarParts.com from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $1.30 target price (down previously from $2.00) on shares of CarParts.com in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, CarParts.com presently has a consensus rating of “Hold” and a consensus price target of $2.33.

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.