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

CarParts.com, Inc. (NASDAQ:PRTS) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 402,255 shares, a drop of 85.1% from the May 14th total of 2,700,947 shares. Currently, 5.3% of the company’s stock are short sold. Based on an average daily volume of 82,258 shares, the days-to-cover ratio is presently 4.9 days.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wall Street Zen raised CarParts.com from a “sell” rating to a “hold” rating in a research report on Sunday, April 19th. Royal Bank Of Canada raised their price objective on shares of CarParts.com from $5.00 to $6.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of CarParts.com in a report on Monday, April 20th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $6.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PRTS. State Street Corp increased its stake in shares of CarParts.com by 13.2% during the 4th quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock worth $119,000 after purchasing an additional 27,800 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of CarParts.com during the 2nd quarter worth approximately $25,000. Renaissance Technologies LLC increased its holdings in shares of CarParts.com by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock worth $676,000 after acquiring an additional 35,900 shares during the last quarter. Williams & Novak LLC grew its stake in CarParts.com by 27.7% in the 4th quarter. Williams & Novak LLC now owns 188,500 shares of the specialty retailer’s stock valued at $94,000 after buying an additional 40,900 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in CarParts.com in the 4th quarter valued at about $25,000. Institutional investors and hedge funds own 75.30% of the company’s stock.

CarParts.com Stock Up 9.6%

Shares of PRTS stock opened at $6.52 on Friday. The company has a current ratio of 1.67, a quick ratio of 0.62 and a debt-to-equity ratio of 0.52. CarParts.com has a 1 year low of $3.72 and a 1 year high of $13.60. The firm’s fifty day moving average price is $7.55 and its two-hundred day moving average price is $6.48. The firm has a market capitalization of $52.81 million, a P/E ratio of -1.05 and a beta of 0.70.

CarParts.com (NASDAQ:PRTS) last issued its quarterly earnings results on Thursday, May 7th. The specialty retailer reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.15) by $1.12. CarParts.com had a negative net margin of 6.97% and a negative return on equity of 61.91%. The firm had revenue of $131.96 million for the quarter, compared to analyst estimates of $131.38 million.

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.