CarParts.com, Inc. (NASDAQ:PRTS) Sees Significant Increase in Short Interest

CarParts.com, Inc. (NASDAQ:PRTS) was the recipient of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 1,321,674 shares, a growth of 15.8% from the February 12th total of 1,141,130 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average daily trading volume, of 544,834 shares, the short-interest ratio is presently 2.4 days. Based on an average daily trading volume, of 544,834 shares, the short-interest ratio is presently 2.4 days. Currently, 2.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PRTS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of CarParts.com in a research report on Wednesday, January 21st. Royal Bank Of Canada cut their price objective on shares of CarParts.com from $0.60 to $0.50 and set a “sector perform” rating for the company in a report on Friday, March 6th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $0.50.

CarParts.com Price Performance

Shares of NASDAQ PRTS traded up $0.00 during midday trading on Tuesday, reaching $0.81. 97,658 shares of the company were exchanged, compared to its average volume of 867,308. CarParts.com has a one year low of $0.37 and a one year high of $1.36. The stock has a market cap of $57.09 million, a P/E ratio of -0.94 and a beta of 0.83. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average price is $0.62 and its 200-day moving average price is $0.62.

CarParts.com (NASDAQ:PRTS) last issued its quarterly earnings data on Thursday, March 5th. The specialty retailer reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.07. The business had revenue of $120.43 million for the quarter, compared to analyst estimates of $118.91 million. CarParts.com had a negative return on equity of 79.79% and a negative net margin of 9.21%.

Hedge Funds Weigh In On CarParts.com

A number of hedge funds and other institutional investors have recently made changes to their positions in PRTS. Jane Street Group LLC acquired a new position in shares of CarParts.com in the 2nd quarter worth approximately $25,000. Cullen Frost Bankers Inc. acquired a new position in CarParts.com in the fourth quarter valued at $25,000. Fragasso Financial Advisors Inc bought a new stake in CarParts.com during the fourth quarter valued at $32,000. Argentarii LLC acquired a new stake in CarParts.com during the 3rd quarter worth about $36,000. Finally, Marshall Wace LLP grew its holdings in CarParts.com by 345.8% during the 2nd quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 53,170 shares during the period. 75.30% of the stock is owned by institutional investors and hedge funds.

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.