Motorcar Parts of America (NASDAQ:MPAA) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Motorcar Parts of America, Inc. (NASDAQ:MPAA) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.57 and traded as high as $7.21. Motorcar Parts of America shares last traded at $7.20, with a volume of 35,352 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Cantor Fitzgerald started coverage on Motorcar Parts of America in a research note on Friday, December 20th. They set an “overweight” rating and a $14.00 price target on the stock. StockNews.com upgraded shares of Motorcar Parts of America from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

Motorcar Parts of America Trading Up 1.7 %

The business’s 50 day simple moving average is $7.41 and its 200 day simple moving average is $6.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.39 and a quick ratio of 0.43. The company has a market capitalization of $142.92 million, a price-to-earnings ratio of -2.06 and a beta of 1.49.

Insider Buying and Selling

In other news, Director Bison Capital Partners Vi, L.P acquired 50,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $6.86 per share, for a total transaction of $343,000.00. Following the transaction, the director now directly owns 320,300 shares in the company, valued at approximately $2,197,258. This represents a 18.50 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Motorcar Parts of America

A number of large investors have recently bought and sold shares of the company. Barclays PLC purchased a new stake in shares of Motorcar Parts of America in the third quarter valued at about $79,000. Geode Capital Management LLC lifted its position in Motorcar Parts of America by 15.1% in the third quarter. Geode Capital Management LLC now owns 212,994 shares of the auto parts company’s stock valued at $1,574,000 after purchasing an additional 27,961 shares during the period. Captrust Financial Advisors boosted its holdings in Motorcar Parts of America by 3.1% in the 3rd quarter. Captrust Financial Advisors now owns 99,635 shares of the auto parts company’s stock valued at $736,000 after purchasing an additional 3,005 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Motorcar Parts of America by 20.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 42,201 shares of the auto parts company’s stock valued at $312,000 after purchasing an additional 7,198 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Motorcar Parts of America by 9.1% during the 3rd quarter. Victory Capital Management Inc. now owns 96,000 shares of the auto parts company’s stock worth $709,000 after purchasing an additional 8,000 shares during the period. Hedge funds and other institutional investors 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.