CarParts.com, Inc. (NASDAQ:PRTS) Short Interest Update

CarParts.com, Inc. (NASDAQ:PRTS) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totaling 1,447,141 shares, a growth of 54.7% from the March 15th total of 935,260 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average trading volume of 667,885 shares, the short-interest ratio is currently 2.2 days.

CarParts.com Price Performance

Shares of NASDAQ:PRTS traded up $0.03 during trading hours on Wednesday, hitting $0.82. 582,757 shares of the company’s stock traded hands, compared to its average volume of 787,740. The company’s fifty day simple moving average is $0.74 and its two-hundred day simple moving average is $0.62. The company has a market cap of $57.67 million, a price-to-earnings ratio of -0.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.49 and a current ratio of 1.66. CarParts.com has a 52 week low of $0.37 and a 52 week high of $1.36.

CarParts.com (NASDAQ:PRTS) last released its earnings results on Thursday, March 5th. The specialty retailer reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.07. The business had revenue of $120.43 million for the quarter, compared to the consensus estimate of $118.91 million. CarParts.com had a negative net margin of 9.21% and a negative return on equity of 79.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PRTS shares. Wall Street Zen cut shares of CarParts.com from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada lowered their price target on CarParts.com from $0.60 to $0.50 and set a “sector perform” rating on the stock in a research report on Friday, March 6th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $0.50.

Institutional Investors Weigh In On CarParts.com

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of CarParts.com by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,554,101 shares of the specialty retailer’s stock worth $1,816,000 after acquiring an additional 56,857 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of CarParts.com by 18.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,779,674 shares of the specialty retailer’s stock valued at $880,000 after purchasing an additional 277,807 shares during the period. North Star Investment Management Corp. boosted its position in shares of CarParts.com by 183.3% in the 3rd quarter. North Star Investment Management Corp. now owns 1,387,853 shares of the specialty retailer’s stock valued at $987,000 after purchasing an additional 897,913 shares during the period. Renaissance Technologies LLC boosted its position in shares of CarParts.com by 2.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock valued at $676,000 after purchasing an additional 35,900 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of CarParts.com by 14.9% in the 4th quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer’s stock valued at $325,000 after purchasing an additional 84,064 shares during the period. 75.30% of the stock is owned by institutional investors.

CarParts.com Company Profile

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.