CarParts.com (NASDAQ:PRTS) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• CarParts.com shares moved above their 200-day moving average, reaching $8.75 and last trading at $8.56, compared with the $7.17 average.
• Analyst sentiment remains negative: Weiss Ratings reaffirmed a “sell (e+)” rating, while the consensus rating is “Reduce” with a $6.00 price target.
• The company beat quarterly revenue and adjusted EPS expectations, but remained unprofitable, reporting a negative net margin and negative return on equity. Insiders have also bought 219,823 shares over the past 90 days.

CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) shares passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $7.17 and traded as high as $8.75. CarParts.com shares last traded at $8.56, with a volume of 49,736 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of CarParts.com in a research report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $6.00.

CarParts.com Stock Down 0.7%

The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.54. The stock has a market cap of $69.08 million, a P/E ratio of -1.98 and a beta of 0.71. The firm has a 50-day simple moving average of $6.99 and a two-hundred day simple moving average of $7.17.

CarParts.com (NASDAQ:PRTS - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.42. CarParts.com had a negative net margin of 5.35% and a negative return on equity of 47.19%. The business had revenue of $135.64 million for the quarter, compared to the consensus estimate of $129.04 million.

Insider Transactions at CarParts.com

In related news, Director Barry Phelps purchased 9,900 shares of CarParts.com stock in a transaction that occurred on Tuesday, August 25th. The shares were acquired at an average price of $6.48 per share, with a total value of $64,152.00. Following the completion of the transaction, the director directly owned 345,788 shares of the company's stock, valued at $2,240,706.24. This represents a 2.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Meniane acquired 36,643 shares of the stock in a transaction on Wednesday, September 9th. The shares were bought at an average price of $9.64 per share, for a total transaction of $353,238.52. Following the purchase, the chief executive officer owned 299,414 shares in the company, valued at approximately $2,886,350.96. This trade represents a 13.94% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 219,823 shares of company stock valued at $2,000,649. 6.60% of the stock is currently owned by company insiders.

Institutional Trading of CarParts.com

An institutional investor recently raised its stake in CarParts.com stock. Bank of America Corp DE boosted its stake in CarParts.com, Inc. (NASDAQ:PRTS - Free Report) by 249.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,094 shares of the specialty retailer's stock after purchasing an additional 50,045 shares during the quarter. Bank of America Corp DE owned about 0.09% of CarParts.com worth $55,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 75.30% of the company's stock.

CarParts.com Company Profile

CarParts.com, Inc operates an e-commerce platform that sells automotive parts and accessories primarily to do-it-yourself consumers, professional installers and collision-repair businesses. The company's product offerings include replacement parts for body, exterior, engine, brake, suspension, steering, drivetrain and electrical systems, as well as vehicle accessories and performance-related products.

The company serves customers across the United States through its CarParts.com website and related online channels.

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