CarParts.com, Inc. (NASDAQ:PRTS) Sees Large Increase in Short Interest

CarParts.com, Inc. (NASDAQ:PRTS) was the recipient of a large increase in short interest in January. As of January 30th, there was short interest totaling 1,152,902 shares, an increase of 23.0% from the January 15th total of 937,488 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily volume of 569,085 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily volume of 569,085 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.8% of the shares of the stock are sold short.

CarParts.com Trading Up 0.3%

Shares of PRTS opened at $0.72 on Thursday. CarParts.com has a twelve month low of $0.37 and a twelve month high of $1.36. The firm has a market capitalization of $50.02 million, a P/E ratio of -0.75 and a beta of 0.94. The company has a current ratio of 1.71, a quick ratio of 0.59 and a debt-to-equity ratio of 0.49. The stock’s fifty day simple moving average is $0.51 and its 200 day simple moving average is $0.63.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, CarParts.com presently has an average rating of “Hold” and a consensus target price of $1.85.

Institutional Trading of CarParts.com

A number of institutional investors have recently modified their holdings of PRTS. Boston Partners grew its stake in CarParts.com by 195.6% during the second quarter. Boston Partners now owns 439,223 shares of the specialty retailer’s stock worth $325,000 after buying an additional 290,616 shares during the period. Private Management Group Inc. acquired a new stake in CarParts.com in the 3rd quarter valued at $65,000. Mackenzie Financial Corp raised its position in CarParts.com by 20.2% in the third quarter. Mackenzie Financial Corp now owns 1,501,867 shares of the specialty retailer’s stock valued at $1,068,000 after purchasing an additional 252,852 shares during the period. Vanguard Group Inc. lifted its stake in shares of CarParts.com by 2.3% during the third quarter. Vanguard Group Inc. now owns 2,554,101 shares of the specialty retailer’s stock worth $1,816,000 after purchasing an additional 56,857 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of CarParts.com by 345.8% in 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 period. Hedge funds and other institutional investors own 75.30% of the company’s stock.

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.