CarParts.com, Inc. (NASDAQ:PRTS) Short Interest Down 16.5% in March

CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 559,900 shares, a decrease of 16.5% from the February 28th total of 670,800 shares. Based on an average daily trading volume, of 584,500 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.0% of the company's stock are short sold.

Hedge Funds Weigh In On CarParts.com

Large investors have recently modified their holdings of the company. Mackenzie Financial Corp purchased a new stake in CarParts.com in the 4th quarter worth approximately $264,000. Squarepoint Ops LLC purchased a new stake in shares of CarParts.com in the fourth quarter worth $71,000. Two Sigma Advisers LP raised its position in shares of CarParts.com by 349.2% in the fourth quarter. Two Sigma Advisers LP now owns 238,100 shares of the specialty retailer's stock worth $257,000 after buying an additional 185,100 shares in the last quarter. Two Sigma Investments LP grew its position in CarParts.com by 46.9% during the fourth quarter. Two Sigma Investments LP now owns 358,804 shares of the specialty retailer's stock worth $388,000 after buying an additional 114,610 shares in the last quarter. Finally, Oaktop Capital Management II L.P. increased its stake in CarParts.com by 23.4% in the 4th quarter. Oaktop Capital Management II L.P. now owns 4,597,302 shares of the specialty retailer's stock worth $4,965,000 after acquiring an additional 872,117 shares during the last quarter. 75.30% of the stock is currently owned by institutional investors.

CarParts.com Stock Performance

CarParts.com stock traded down $0.13 during mid-day trading on Friday, reaching $0.87. 569,961 shares of the company's stock were exchanged, compared to its average volume of 724,267. The business's fifty day simple moving average is $1.06 and its 200 day simple moving average is $1.00. The company has a quick ratio of 0.57, a current ratio of 1.62 and a debt-to-equity ratio of 0.10. CarParts.com has a one year low of $0.68 and a one year high of $1.66. The firm has a market capitalization of $50.59 million, a PE ratio of -1.61 and a beta of 2.11.

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CarParts.com (NASDAQ:PRTS - Get Free Report) last released its earnings results on Tuesday, March 25th. The specialty retailer reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.08). The company had revenue of $588.85 million for the quarter, compared to the consensus estimate of $141.22 million. CarParts.com had a negative net margin of 5.11% and a negative return on equity of 29.57%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PRTS shares. Craig Hallum raised shares of CarParts.com from a "hold" rating to a "buy" rating and set a $3.00 price objective on the stock in a report on Thursday, March 6th. StockNews.com upgraded shares of CarParts.com from a "sell" rating to a "hold" rating in a report on Tuesday, April 1st.

About CarParts.com

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.