Short Interest in CarParts.com, Inc. (NASDAQ:PRTS) Increases By 15.8%

CarParts.com, Inc. (NASDAQ:PRTS) was the target 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. Approximately 2.1% of the company’s shares are short sold. Based on an average daily trading volume, of 544,834 shares, the days-to-cover ratio is presently 2.4 days. Based on an average daily trading volume, of 544,834 shares, the days-to-cover ratio is presently 2.4 days. Approximately 2.1% of the company’s shares are short sold.

Institutional Trading of CarParts.com

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC bought a new position in shares of CarParts.com during the second quarter worth about $25,000. Cullen Frost Bankers Inc. bought a new stake in CarParts.com in the 4th quarter valued at approximately $25,000. Fragasso Financial Advisors Inc bought a new stake in CarParts.com in the 4th quarter valued at approximately $32,000. Argentarii LLC acquired a new position in CarParts.com during the 3rd quarter worth approximately $36,000. Finally, Marshall Wace LLP boosted its position 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 last quarter. 75.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

CarParts.com Stock Down 1.5%

Shares of PRTS stock opened at $0.79 on Wednesday. CarParts.com has a 12-month low of $0.37 and a 12-month high of $1.36. 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 firm has a fifty day moving average of $0.62 and a 200-day moving average of $0.62. The company has a market capitalization of $55.99 million, a price-to-earnings ratio of -0.92 and a beta of 0.84.

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

CarParts.com Company Profile

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.