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

CarParts.com, Inc. (NASDAQ:PRTS) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 937,488 shares, a decline of 41.6% from the December 31st total of 1,606,464 shares. Based on an average daily volume of 1,101,724 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.5% of the shares of the stock are short sold. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily volume of 1,101,724 shares, the days-to-cover ratio is currently 0.9 days.

CarParts.com Stock Up 0.5%

Shares of NASDAQ:PRTS traded up $0.00 during midday trading on Friday, reaching $0.51. The company had a trading volume of 913,971 shares, compared to its average volume of 797,868. The stock has a market capitalization of $35.81 million, a P/E ratio of -0.53 and a beta of 0.87. The stock’s fifty day moving average price is $0.48 and its 200-day moving average price is $0.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.71 and a quick ratio of 0.59. CarParts.com has a one year low of $0.37 and a one year high of $1.36.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings data on Monday, November 10th. The specialty retailer reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. The company had revenue of $127.77 million during the quarter, compared to analyst estimates of $142.03 million. CarParts.com had a negative net margin of 9.69% and a negative return on equity of 76.33%.

Institutional Investors Weigh In On CarParts.com

Several large investors have recently added to or reduced their stakes in PRTS. Argentarii LLC increased its holdings in shares of CarParts.com by 200.0% in the 4th quarter. Argentarii LLC now owns 150,000 shares of the specialty retailer’s stock worth $75,000 after acquiring an additional 100,000 shares during the period. Fragasso Financial Advisors Inc bought a new position in CarParts.com in the 4th quarter worth about $32,000. Citadel Advisors LLC increased its stake in shares of CarParts.com by 171.5% in the third quarter. Citadel Advisors LLC now owns 148,771 shares of the specialty retailer’s stock valued at $106,000 after purchasing an additional 93,971 shares during the period. Private Management Group Inc. bought a new stake in shares of CarParts.com during the third quarter valued at approximately $65,000. Finally, Mackenzie Financial Corp raised its holdings in shares of CarParts.com by 20.2% during the third quarter. Mackenzie Financial Corp now owns 1,501,867 shares of the specialty retailer’s stock valued at $1,068,000 after buying an additional 252,852 shares during the last quarter. 75.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CarParts.com in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $1.85.

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.