Motorcar Parts of America (NASDAQ:MPAA) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Motorcar Parts of America, Inc. (NASDAQ:MPAA)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MPAA shares. StockNews.com raised Motorcar Parts of America from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald initiated coverage on shares of Motorcar Parts of America in a research report on Friday, December 20th. They set an “overweight” rating and a $14.00 price objective on the stock.

Motorcar Parts of America Stock Performance

The firm has a market cap of $142.93 million, a price-to-earnings ratio of -2.06 and a beta of 1.49. The company has a current ratio of 1.39, a quick ratio of 0.43 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $7.41 and a 200 day moving average price of $6.58.

Insider Activity at Motorcar Parts of America

In other Motorcar Parts of America news, Director Bison Capital Partners Vi, L.P purchased 50,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average price of $6.86 per share, for a total transaction of $343,000.00. Following the completion of the purchase, the director now directly owns 320,300 shares of the company’s stock, valued at approximately $2,197,258. This represents a 18.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Motorcar Parts of America

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC acquired a new stake in shares of Motorcar Parts of America during the 3rd quarter worth about $79,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Motorcar Parts of America by 24.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 35,003 shares of the auto parts company’s stock worth $216,000 after buying an additional 6,979 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Motorcar Parts of America in the third quarter valued at approximately $281,000. Equitable Trust Co. boosted its holdings in shares of Motorcar Parts of America by 9.3% in the 3rd quarter. Equitable Trust Co. now owns 67,965 shares of the auto parts company’s stock worth $502,000 after acquiring an additional 5,780 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in Motorcar Parts of America by 72.1% during the 2nd quarter. Squarepoint Ops LLC now owns 84,221 shares of the auto parts company’s stock worth $520,000 after acquiring an additional 35,285 shares during the last quarter. 83.48% of the stock is owned by institutional investors.

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.