CarParts.com, Inc. (NASDAQ:PRTS) Sees Large Decline in Short Interest

CarParts.com, Inc. (NASDAQ:PRTS) was the recipient of a significant decline in short interest in 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. Approximately 1.0% of the company’s stock are sold short. Based on an average daily volume of 584,500 shares, the short-interest ratio is presently 1.0 days.

CarParts.com Stock Down 4.8 %

PRTS stock traded down $0.05 during midday trading on Thursday, reaching $0.99. 173,134 shares of the company’s stock traded hands, compared to its average volume of 721,208. 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 firm’s fifty day moving average price is $1.07 and its 200-day moving average price is $1.00. CarParts.com has a 52 week low of $0.68 and a 52 week high of $1.66. The company has a market cap of $57.71 million, a price-to-earnings ratio of -1.83 and a beta of 2.11.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings results 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). The business had revenue of $588.85 million during the quarter, compared to the consensus estimate of $141.22 million. CarParts.com had a negative net margin of 5.11% and a negative return on equity of 29.57%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Thompson Davis & CO. Inc. purchased a new stake in CarParts.com in the 4th quarter valued at $27,000. Raymond James Financial Inc. bought a new position in shares of CarParts.com during the fourth quarter valued at about $39,000. Squarepoint Ops LLC bought a new position in shares of CarParts.com during the fourth quarter valued at about $71,000. XTX Topco Ltd boosted its holdings in CarParts.com by 14.9% during the third quarter. XTX Topco Ltd now owns 78,917 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 10,230 shares during the last quarter. Finally, Northern Trust Corp grew its position in CarParts.com by 8.6% in the 4th quarter. Northern Trust Corp now owns 138,525 shares of the specialty retailer’s stock worth $150,000 after purchasing an additional 10,954 shares in the last quarter. Institutional investors own 75.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PRTS shares. StockNews.com raised shares of CarParts.com from a “sell” rating to a “hold” rating in a research report on Tuesday. Craig Hallum upgraded CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a report on Thursday, March 6th.

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.