Motorcar Parts of America (NASDAQ:MPAA) Shares Pass Above 200-Day Moving Average - Here's What Happened

Motorcar Parts of America, Inc. (NASDAQ:MPAA - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.57 and traded as high as $7.21. Motorcar Parts of America shares last traded at $7.20, with a volume of 35,352 shares.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MPAA. Cantor Fitzgerald began coverage on Motorcar Parts of America in a report on Friday, December 20th. They set an "overweight" rating and a $14.00 price target on the stock. StockNews.com upgraded Motorcar Parts of America from a "hold" rating to a "buy" rating in a report on Wednesday, November 13th.

Motorcar Parts of America Stock Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.43 and a current ratio of 1.39. The company's 50-day moving average price is $7.41 and its 200 day moving average price is $6.57. The stock has a market capitalization of $142.92 million, a PE ratio of -2.06 and a beta of 1.49.

Insider Transactions at Motorcar Parts of America

In other news, Director Bison Capital Partners Vi, L.P purchased 50,000 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average price of $6.86 per share, for a total transaction of $343,000.00. Following the purchase, the director now directly owns 320,300 shares in the company, valued at approximately $2,197,258. This trade represents a 18.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC purchased a new position in shares of Motorcar Parts of America in the 3rd quarter worth approximately $79,000. Oppenheimer Asset Management Inc. increased its position in Motorcar Parts of America by 24.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 35,003 shares of the auto parts company's stock valued at $216,000 after acquiring an additional 6,979 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Motorcar Parts of America in the third quarter valued at $281,000. Equitable Trust Co. lifted its holdings in shares of Motorcar Parts of America by 9.3% in the 3rd quarter. Equitable Trust Co. now owns 67,965 shares of the auto parts company's stock worth $502,000 after acquiring an additional 5,780 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Motorcar Parts of America by 72.1% during the 2nd quarter. Squarepoint Ops LLC now owns 84,221 shares of the auto parts company's stock worth $520,000 after purchasing an additional 35,285 shares during the period. Institutional investors own 83.48% of the company's stock.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.