CarParts.com (NASDAQ:PRTS) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

CarParts.com, Inc. (NASDAQ:PRTS) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.95 and traded as high as $0.96. CarParts.com shares last traded at $0.95, with a volume of 330,435 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PRTS. Royal Bank of Canada reduced their target price on CarParts.com from $0.90 to $0.80 and set a “sector perform” rating for the company in a research note on Wednesday, October 30th. StockNews.com raised CarParts.com from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

CarParts.com Price Performance

The stock has a market capitalization of $54.33 million, a P/E ratio of -1.75 and a beta of 2.04. The business has a fifty day simple moving average of $0.93 and a 200 day simple moving average of $0.95. The company has a current ratio of 1.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.10.

CarParts.com (NASDAQ:PRTS) last posted its quarterly earnings data on Tuesday, October 29th. The specialty retailer reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). CarParts.com had a negative return on equity of 29.57% and a negative net margin of 5.11%. The firm had revenue of $144.75 million for the quarter.

Hedge Funds Weigh In On CarParts.com

A number of hedge funds and other institutional investors have recently modified their holdings of PRTS. GSA Capital Partners LLP boosted its holdings in shares of CarParts.com by 236.5% in the 3rd quarter. GSA Capital Partners LLP now owns 1,233,829 shares of the specialty retailer’s stock worth $1,118,000 after buying an additional 867,140 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of CarParts.com by 24.1% in the second 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 period. Acadian Asset Management LLC lifted its position in shares of CarParts.com by 9.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,012,120 shares of the specialty retailer’s stock valued at $2,011,000 after buying an additional 173,305 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in CarParts.com in the 2nd quarter worth about $93,000. Finally, FMR LLC raised its stake in CarParts.com by 26.6% in the 3rd quarter. FMR LLC now owns 426,441 shares of the specialty retailer’s stock valued at $386,000 after acquiring an additional 89,645 shares during the period. Hedge funds and other institutional investors own 75.30% of the company’s stock.

CarParts.com Company Profile

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.