CarParts.com, Inc. (NASDAQ:PRTS) Short Interest Up 23.0% in January

CarParts.com, Inc. (NASDAQ:PRTS) saw a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 1,152,902 shares, an increase of 23.0% from the January 15th total of 937,488 shares. Based on an average daily volume of 569,085 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.8% of the shares of the company are short sold. Approximately 1.8% of the shares of the company are short sold. Based on an average daily volume of 569,085 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PRTS. State Street Corp increased its position in shares of CarParts.com by 13.2% during the fourth quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock valued at $119,000 after buying an additional 27,800 shares during the period. Renaissance Technologies LLC boosted its position in CarParts.com by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock valued at $676,000 after acquiring an additional 35,900 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CarParts.com by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer’s stock worth $325,000 after acquiring an additional 84,064 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of CarParts.com in the 4th quarter worth approximately $25,000. Finally, Williams & Novak LLC lifted its stake in shares of CarParts.com by 27.7% in the 4th quarter. Williams & Novak LLC now owns 188,500 shares of the specialty retailer’s stock valued at $94,000 after purchasing an additional 40,900 shares during the period. Institutional investors own 75.30% of the company’s stock.

CarParts.com Stock Performance

CarParts.com stock opened at $0.70 on Tuesday. The firm has a fifty day simple moving average of $0.50 and a two-hundred day simple moving average of $0.63. The company has a quick ratio of 0.59, a current ratio of 1.71 and a debt-to-equity ratio of 0.49. CarParts.com has a twelve month low of $0.37 and a twelve month high of $1.36. The company has a market capitalization of $48.83 million, a PE ratio of -0.73 and a beta of 0.94.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $1.85.

CarParts.com Company Profile

CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.

Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.