CarParts.com, Inc. (NASDAQ:PRTS) Short Interest Update

CarParts.com, Inc. (NASDAQ:PRTS) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 733,300 shares, a growth of 22.8% from the August 15th total of 597,200 shares. Based on an average daily trading volume, of 1,080,000 shares, the days-to-cover ratio is presently 0.7 days.

CarParts.com Stock Performance

Shares of PRTS remained flat at $0.86 during mid-day trading on Friday. 396,226 shares of the stock traded hands, compared to its average volume of 859,983. The company has a fifty day simple moving average of $0.95 and a 200 day simple moving average of $1.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.67 and a quick ratio of 0.51. The stock has a market cap of $49.03 million, a price-to-earnings ratio of -3.17 and a beta of 2.05. CarParts.com has a twelve month low of $0.72 and a twelve month high of $4.27.

CarParts.com (NASDAQ:PRTS) last posted its quarterly earnings results on Tuesday, July 30th. The specialty retailer reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.05). The business had revenue of $144.27 million during the quarter. CarParts.com had a negative net margin of 3.75% and a negative return on equity of 21.44%. During the same period in the prior year, the company earned ($0.01) earnings per share.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PRTS shares. Lake Street Capital decreased their price objective on CarParts.com from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $1.30 price objective (down previously from $2.00) on shares of CarParts.com in a report on Wednesday, July 31st. Finally, StockNews.com cut CarParts.com from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.33.

Institutional Investors Weigh In On CarParts.com

A number of institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of CarParts.com in the second quarter valued at approximately $93,000. XTX Topco Ltd grew its holdings in CarParts.com by 41.2% during the 2nd quarter. XTX Topco Ltd now owns 68,687 shares of the specialty retailer’s stock valued at $69,000 after buying an additional 20,037 shares during the last quarter. Renaissance Technologies LLC grew its holdings in CarParts.com by 24.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,198,500 shares of the specialty retailer’s stock valued at $1,198,000 after buying an additional 232,500 shares during the last quarter. Acadian Asset Management LLC increased its position in CarParts.com by 9.4% during the second quarter. Acadian Asset Management LLC now owns 2,012,120 shares of the specialty retailer’s stock worth $2,011,000 after buying an additional 173,305 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of CarParts.com in the second quarter worth $50,000. Institutional investors and hedge funds 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.