Motorcar Parts of America, Inc. (NASDAQ:MPAA) Short Interest Update

Key Points

• Motorcar Parts of America, Inc. experienced a significant decrease in short interest, dropping by 30.9% in September, totaling 654,400 shares by the end of the month.
• Analysts have upgraded MPAA from a "strong sell" to a "hold" rating, with the stock currently holding an average price target of $14.00.
• The company's stock is trading at $16.34, up 1.1% from the previous session, reflecting a market capitalization of $316.18 million.

Motorcar Parts of America, Inc. (NASDAQ:MPAA - Get Free Report) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 654,400 shares, a decrease of 30.9% from the September 15th total of 946,600 shares. Based on an average daily volume of 168,500 shares, the short-interest ratio is presently 3.9 days. Currently, 4.4% of the company's shares are sold short. Currently, 4.4% of the company's shares are sold short. Based on an average daily volume of 168,500 shares, the short-interest ratio is presently 3.9 days.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MPAA shares. Zacks Research upgraded shares of Motorcar Parts of America from a "strong sell" rating to a "hold" rating in a research report on Monday, October 13th. Weiss Ratings reissued a "hold (c-)" rating on shares of Motorcar Parts of America in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $14.00.

Motorcar Parts of America Stock Up 1.1%

Shares of MPAA traded up $0.18 during mid-day trading on Thursday, hitting $16.34. 59,591 shares of the company's stock were exchanged, compared to its average volume of 156,903. The company has a market cap of $316.18 million, a PE ratio of 233.46 and a beta of 1.43. Motorcar Parts of America has a 52 week low of $5.16 and a 52 week high of $17.72. The company has a 50-day simple moving average of $15.42 and a 200 day simple moving average of $12.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.44 and a quick ratio of 0.42.

Institutional Investors Weigh In On Motorcar Parts of America

Several hedge funds have recently added to or reduced their stakes in MPAA. Osaic Holdings Inc. lifted its holdings in shares of Motorcar Parts of America by 4.1% during the second quarter. Osaic Holdings Inc. now owns 23,712 shares of the auto parts company's stock worth $266,000 after buying an additional 933 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Motorcar Parts of America by 4.5% during the second quarter. Lazard Asset Management LLC now owns 27,805 shares of the auto parts company's stock worth $311,000 after buying an additional 1,191 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Motorcar Parts of America by 5.4% during the second quarter. Invesco Ltd. now owns 39,479 shares of the auto parts company's stock worth $442,000 after buying an additional 2,009 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Motorcar Parts of America by 2,191.3% during the second quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company's stock worth $32,000 after buying an additional 2,761 shares in the last quarter. Finally, Donald Smith & CO. Inc. lifted its holdings in shares of Motorcar Parts of America by 0.4% during the first quarter. Donald Smith & CO. Inc. now owns 1,024,058 shares of the auto parts company's stock worth $9,729,000 after buying an additional 3,650 shares in the last quarter. Institutional investors and hedge funds own 83.48% of the company's stock.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.

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