Short Interest in CarParts.com, Inc. (NASDAQ:PRTS) Increases By 21.4%

CarParts.com, Inc. (NASDAQ:PRTS) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,110,000 shares, a growth of 21.4% from the October 15th total of 914,200 shares. Based on an average trading volume of 550,600 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Trading of CarParts.com

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dynamic Advisor Solutions LLC boosted its position in shares of CarParts.com by 73.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 129,327 shares of the specialty retailer’s stock valued at $129,000 after purchasing an additional 54,869 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of CarParts.com by 46.4% during the first quarter. Acadian Asset Management LLC now owns 1,838,815 shares of the specialty retailer’s stock worth $2,978,000 after buying an additional 582,376 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in CarParts.com in the first quarter valued at about $33,000. Cullen Frost Bankers Inc. acquired a new position in CarParts.com in the second quarter valued at approximately $50,000. Finally, XTX Topco Ltd grew its holdings in CarParts.com by 41.2% during the second quarter. XTX Topco Ltd now owns 68,687 shares of the specialty retailer’s stock worth $69,000 after buying an additional 20,037 shares in the last quarter. Institutional investors and hedge funds own 75.30% of the company’s stock.

CarParts.com Stock Up 7.1 %

Shares of NASDAQ PRTS traded up $0.07 during mid-day trading on Friday, reaching $1.01. 456,169 shares of the company’s stock were exchanged, compared to its average volume of 779,464. The company has a current ratio of 1.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $0.86 and a 200 day simple moving average of $0.98. The firm has a market capitalization of $57.97 million, a price-to-earnings ratio of -1.87 and a beta of 2.06. CarParts.com has a twelve month low of $0.68 and a twelve month high of $3.65.

CarParts.com (NASDAQ:PRTS) last issued its quarterly earnings results on Tuesday, October 29th. The specialty retailer reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). CarParts.com had a negative return on equity of 29.57% and a negative net margin of 5.11%. The business had revenue of $144.75 million for the quarter.

Analyst Ratings Changes

Several research firms recently weighed in on PRTS. Royal Bank of Canada cut their price objective on CarParts.com from $0.90 to $0.80 and set a “sector perform” rating on the stock in a report on Wednesday, October 30th. StockNews.com upgraded shares of CarParts.com from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Lake Street Capital dropped their target price on shares of CarParts.com from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st.

CarParts.com Company Profile

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.