StockNews.com upgraded shares of Motorcar Parts of America (NASDAQ:MPAA - Free Report) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning.
Motorcar Parts of America Stock Performance
NASDAQ MPAA traded up $0.43 during trading hours on Wednesday, reaching $9.50. 154,643 shares of the company were exchanged, compared to its average volume of 93,123. The company has a quick ratio of 0.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $186.05 million, a P/E ratio of -9.60 and a beta of 1.29. Motorcar Parts of America has a 1 year low of $4.36 and a 1 year high of $11.89. The business's 50 day simple moving average is $9.68 and its 200-day simple moving average is $8.05.
Hedge Funds Weigh In On Motorcar Parts of America
Institutional investors have recently bought and sold shares of the company. Tieton Capital Management LLC raised its stake in shares of Motorcar Parts of America by 22.8% in the fourth quarter. Tieton Capital Management LLC now owns 1,194,361 shares of the auto parts company's stock valued at $9,077,000 after buying an additional 221,925 shares during the period. Pacific Ridge Capital Partners LLC raised its stake in Motorcar Parts of America by 17.1% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,115,849 shares of the auto parts company's stock valued at $8,480,000 after acquiring an additional 162,797 shares during the period. Atlas Legacy Advisors LLC bought a new stake in Motorcar Parts of America in the 4th quarter valued at about $580,000. Ancora Advisors LLC purchased a new stake in Motorcar Parts of America during the fourth quarter valued at about $512,000. Finally, Marshall Wace LLP boosted its position in Motorcar Parts of America by 77.4% during the fourth quarter. Marshall Wace LLP now owns 115,331 shares of the auto parts company's stock worth $877,000 after purchasing an additional 50,302 shares during the period. Hedge funds and other institutional investors own 83.48% of the company's stock.
About Motorcar Parts of America
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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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