CarParts.com (NASDAQ:PRTS) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of CarParts.com, Inc. (NASDAQ:PRTS) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.52 and traded as high as $6.78. CarParts.com shares last traded at $6.41, with a volume of 10,040 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CarParts.com in a research note on Monday, April 20th. Wall Street Zen upgraded shares of CarParts.com from a “sell” rating to a “hold” rating in a report on Sunday, April 19th. Finally, Royal Bank Of Canada boosted their price objective on shares of CarParts.com from $5.00 to $6.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, CarParts.com has an average rating of “Reduce” and an average target price of $6.00.

CarParts.com Stock Down 6.0%

The firm’s 50-day simple moving average is $7.44 and its 200 day simple moving average is $6.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.62 and a current ratio of 1.67. The stock has a market capitalization of $51.92 million, a P/E ratio of -1.03 and a beta of 0.70.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings data on Thursday, May 7th. The specialty retailer reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($1.15) by $1.12. The company had revenue of $131.96 million during the quarter, compared to analysts’ expectations of $131.38 million. CarParts.com had a negative return on equity of 61.91% and a negative net margin of 6.97%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PRTS. Jane Street Group LLC bought a new stake in shares of CarParts.com during the 2nd quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new position in shares of CarParts.com in the fourth quarter valued at $25,000. Fragasso Financial Advisors Inc bought a new position in shares of CarParts.com in the fourth quarter valued at $32,000. Marshall Wace LLP increased its holdings in CarParts.com by 345.8% during the second quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock worth $51,000 after buying an additional 53,170 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in CarParts.com by 249.6% during the first quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer’s stock worth $55,000 after buying an additional 50,045 shares during the last quarter. 75.30% of the stock is currently owned by institutional investors.

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.