Short Interest in CarParts.com, Inc. (NASDAQ:PRTS) Increases By 21.4%

CarParts.com, Inc. (NASDAQ:PRTS) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,110,000 shares, a growth of 21.4% from the October 15th total of 914,200 shares. Based on an average trading volume of 550,600 shares, the days-to-cover ratio is presently 2.0 days.

Wall Street Analyst Weigh In

PRTS has been the subject of several recent research reports. Royal Bank of Canada cut their price target on CarParts.com from $0.90 to $0.80 and set a “sector perform” rating for the company in a report on Wednesday, October 30th. StockNews.com raised CarParts.com from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Lake Street Capital decreased their price objective on CarParts.com from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st.

Institutional Trading of CarParts.com

Several institutional investors have recently added to or reduced their stakes in PRTS. XTX Topco Ltd lifted its holdings in shares of CarParts.com by 14.9% in the third quarter. XTX Topco Ltd now owns 78,917 shares of the specialty retailer’s stock worth $72,000 after buying an additional 10,230 shares in the last quarter. FMR LLC increased its stake in CarParts.com by 26.6% in the 3rd quarter. FMR LLC now owns 426,441 shares of the specialty retailer’s stock worth $386,000 after buying an additional 89,645 shares during the period. GSA Capital Partners LLP grew its stake in CarParts.com by 236.5% in the third quarter. GSA Capital Partners LLP now owns 1,233,829 shares of the specialty retailer’s stock worth $1,118,000 after purchasing an additional 867,140 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of CarParts.com by 40.1% in the third quarter. Assenagon Asset Management S.A. now owns 275,470 shares of the specialty retailer’s stock valued at $250,000 after acquiring an additional 78,866 shares in the last quarter. Finally, Williams & Novak LLC boosted its stake in shares of CarParts.com by 11.1% during the third quarter. Williams & Novak LLC now owns 127,100 shares of the specialty retailer’s stock valued at $115,000 after purchasing an additional 12,650 shares in the last quarter. 75.30% of the stock is currently owned by hedge funds and other institutional investors.

CarParts.com Stock Performance

NASDAQ:PRTS traded up $0.07 during trading on Friday, reaching $1.01. The company’s stock had a trading volume of 456,515 shares, compared to its average volume of 637,651. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.57 and a current ratio of 1.62. The firm has a market cap of $57.97 million, a price-to-earnings ratio of -1.87 and a beta of 2.06. CarParts.com has a 12 month low of $0.68 and a 12 month high of $3.65. The firm has a 50 day moving average of $0.86 and a 200-day moving average of $0.97.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings results on Tuesday, October 29th. The specialty retailer reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.06). The firm had revenue of $144.75 million during the quarter. CarParts.com had a negative net margin of 5.11% and a negative return on equity of 29.57%.

CarParts.com Company Profile

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.