CarParts.com (NASDAQ:PRTS) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• CarParts.com (NASDAQ:PRTS) stock surpassed its 200-day moving average, trading as high as $0.89, although it closed at $0.84 with a trading volume of 1,777,562 shares.
• Analysts have provided mixed ratings, with Royal Bank of Canada reducing its price objective to $0.70 while Wall Street Zen upgraded the stock from "sell" to "hold"; the consensus rating currently stands at "Moderate Buy" with an average target price of $1.85.
• The company reported a loss of $0.23 EPS for the last quarter, missing expectations, and generated $151.95 million in revenue, which also fell short of analyst predictions.

CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.87 and traded as high as $0.89. CarParts.com shares last traded at $0.84, with a volume of 1,777,562 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PRTS. Royal Bank Of Canada reduced their price objective on CarParts.com from $0.80 to $0.70 and set a "sector perform" rating on the stock in a research note on Wednesday, August 13th. Wall Street Zen upgraded CarParts.com from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1.85.

CarParts.com Stock Down 2.5%

The stock has a market cap of $49.44 million, a PE ratio of -0.89 and a beta of 0.93. The firm has a fifty day moving average of $0.83 and a 200 day moving average of $0.87. The company has a quick ratio of 0.38, a current ratio of 1.47 and a debt-to-equity ratio of 0.28.

CarParts.com (NASDAQ:PRTS - Get Free Report) last posted its earnings results on Tuesday, August 12th. The specialty retailer reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The business had revenue of $151.95 million during the quarter, compared to analysts' expectations of $153.46 million. CarParts.com had a negative net margin of 9.25% and a negative return on equity of 67.30%.

Hedge Funds Weigh In On CarParts.com

Several large investors have recently bought and sold shares of PRTS. Raymond James Financial Inc. purchased a new position in CarParts.com in the fourth quarter valued at $39,000. Northern Trust Corp grew its holdings in shares of CarParts.com by 8.6% during the fourth quarter. Northern Trust Corp now owns 138,525 shares of the specialty retailer's stock worth $150,000 after purchasing an additional 10,954 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of CarParts.com by 46.9% during the fourth quarter. Two Sigma Investments LP now owns 358,804 shares of the specialty retailer's stock worth $388,000 after purchasing an additional 114,610 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of CarParts.com by 349.2% during the fourth quarter. Two Sigma Advisers LP now owns 238,100 shares of the specialty retailer's stock worth $257,000 after purchasing an additional 185,100 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of CarParts.com during the fourth quarter worth about $71,000. Hedge funds and other institutional investors 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.

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