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

Motorcar Parts of America, Inc. (NASDAQ:MPAA)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $10.45 and traded as high as $13.98. Motorcar Parts of America shares last traded at $13.96, with a volume of 455,820 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Motorcar Parts of America from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $14.00.

Motorcar Parts of America Trading Up 3.6%

The company has a current ratio of 1.44, a quick ratio of 0.42 and a debt-to-equity ratio of 0.16. The firm has a market cap of $270.13 million, a PE ratio of 199.46 and a beta of 1.39. The company’s 50-day moving average is $11.69 and its 200 day moving average is $10.45.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Evergreen Capital Management LLC acquired a new position in Motorcar Parts of America during the second quarter valued at $224,000. Man Group plc purchased a new position in Motorcar Parts of America during the 2nd quarter valued at about $745,000. Lazard Asset Management LLC increased its holdings in shares of Motorcar Parts of America by 4.5% in the 2nd quarter. Lazard Asset Management LLC now owns 27,805 shares of the auto parts company’s stock valued at $311,000 after purchasing an additional 1,191 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Motorcar Parts of America in the second quarter worth approximately $143,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Motorcar Parts of America by 2,191.3% in the second quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 2,761 shares in the last quarter. Hedge funds and other institutional investors own 83.48% of the company’s stock.

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.