CarParts.com (NASDAQ:PRTS) Stock Price Breaks Below Two Hundred Day Moving Average – Here’s Why

CarParts.com, Inc. (NASDAQ:PRTS) passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $7.08 and traded as low as $6.50. CarParts.com shares last traded at $6.90, with a volume of 135,533 shares.

Analysts Set New Price Targets

Several research firms recently weighed in on PRTS. Weiss Ratings upgraded shares of CarParts.com from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Royal Bank Of Canada raised their price objective on shares of CarParts.com from $6.70 to $7.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, Wall Street Zen raised shares of CarParts.com to a “hold” rating in a research report on Saturday, October 3rd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $7.00.

CarParts.com Price Performance

The stock has a market cap of $55.68 million, a P/E ratio of -2.33 and a beta of 0.68. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The business’s 50-day simple moving average is $8.17 and its two-hundred day simple moving average is $7.08.

CarParts.com (NASDAQ:PRTS) last posted its quarterly earnings results on Thursday, October 29th. The specialty retailer reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.31. The company had revenue of $129.33 million for the quarter, compared to analyst estimates of $124.04 million. CarParts.com had a negative net margin of 4.03% and a negative return on equity of 36.78%.

Insider Activity at CarParts.com

In related news, COO Michael Huffaker bought 36,580 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were purchased at an average price of $9.64 per share, for a total transaction of $352,631.20. Following the completion of the transaction, the chief operating officer directly owned 139,560 shares in the company, valued at approximately $1,345,358.40. The trade was a 35.52% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Meniane purchased 36,643 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was bought at an average cost of $9.64 per share, with a total value of $353,238.52. Following the completion of the acquisition, the chief executive officer directly owned 299,414 shares of the company’s stock, valued at approximately $2,886,350.96. This trade represents a 13.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 219,823 shares of company stock worth $2,000,649. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of CarParts.com

An institutional investor recently raised its position in CarParts.com stock. Bank of America Corp DE increased its stake in shares of CarParts.com, Inc. (NASDAQ:PRTS) by 249.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 70,094 shares of the specialty retailer’s stock after purchasing an additional 50,045 shares during the period. Bank of America Corp DE owned 0.09% of CarParts.com worth $55,000 as of its most recent SEC filing. 75.30% of the stock is currently owned by institutional investors.

CarParts.com Company Profile

CarParts.com, Inc is an e-commerce retailer specializing in replacement and aftermarket automotive parts and accessories. Through its online platform, the company serves owners, do-it-yourself customers, professional installers and collision-repair businesses seeking parts for cars, trucks and sport utility vehicles.

Its product offerings include collision and body components such as bumpers, fenders, hoods, mirrors and lighting, as well as mechanical parts for braking, suspension, steering, engine, transmission, exhaust and cooling systems.