CarParts.com (NASDAQ:PRTS) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of CarParts.com, Inc. (NASDAQ:PRTS) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.98 and traded as high as $1.12. CarParts.com shares last traded at $0.98, with a volume of 619,812 shares changing hands.

Wall Street Analyst Weigh In

Separately, Craig Hallum upgraded CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research report on Thursday, March 6th.

CarParts.com Price Performance

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 company has a 50-day simple moving average of $1.12 and a 200-day simple moving average of $0.98. The company has a market cap of $59.12 million, a price-to-earnings ratio of -1.91 and a beta of 2.11.

Hedge Funds Weigh In On CarParts.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. purchased a new stake in shares of CarParts.com during the 4th quarter worth approximately $27,000. Raymond James Financial Inc. purchased a new stake in shares of CarParts.com during the 4th quarter worth approximately $39,000. Squarepoint Ops LLC purchased a new stake in shares of CarParts.com during the 4th quarter worth approximately $71,000. XTX Topco Ltd boosted its stake in shares of CarParts.com by 14.9% during the 3rd quarter. XTX Topco Ltd now owns 78,917 shares of the specialty retailer’s stock worth $72,000 after acquiring an additional 10,230 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of CarParts.com by 8.6% during the 4th quarter. Northern Trust Corp now owns 138,525 shares of the specialty retailer’s stock worth $150,000 after acquiring an additional 10,954 shares in the last quarter. Institutional investors and hedge funds own 75.30% of the company’s stock.

About CarParts.com

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.