Motorcar Parts of America (NASDAQ:MPAA) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Motorcar Parts of America shares have crossed above their two hundred day moving average, reaching a high of $15.44 during trading, with the stock last priced at $15.38.
• Institutional investors have significantly increased their holdings in Motorcar Parts of America, with JPMorgan Chase marking a 7,127.3% increase in shares owned during the second quarter.
• The stock currently holds a "Moderate Buy" rating from analysts, with an average price target of $14.00, indicating potential growth.

Motorcar Parts of America, Inc. (NASDAQ:MPAA - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.00 and traded as high as $15.44. Motorcar Parts of America shares last traded at $15.38, with a volume of 128,886 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Motorcar Parts of America in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Motorcar Parts of America currently has an average rating of "Moderate Buy" and an average price target of $14.00.

Motorcar Parts of America Trading Up 3.8%

The company's 50 day moving average price is $14.94 and its 200 day moving average price is $12.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.44 and a quick ratio of 0.42. The firm has a market cap of $297.60 million, a PE ratio of 219.75 and a beta of 1.43.

Hedge Funds Weigh In On Motorcar Parts of America

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in shares of Motorcar Parts of America by 2,191.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company's stock valued at $32,000 after acquiring an additional 2,761 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Motorcar Parts of America in the 2nd quarter valued at $45,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Motorcar Parts of America in the 1st quarter valued at $95,000. JPMorgan Chase & Co. increased its holdings in shares of Motorcar Parts of America by 7,127.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,745 shares of the auto parts company's stock valued at $98,000 after acquiring an additional 8,624 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in shares of Motorcar Parts of America in the 2nd quarter valued at $109,000. 83.48% of the stock is owned by institutional investors and hedge funds.

About Motorcar Parts of America

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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