Short Interest in CarParts.com, Inc. (NASDAQ:PRTS) Increases By 21.0%

CarParts.com, Inc. (NASDAQ:PRTS) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 660,900 shares, a growth of 21.0% from the December 31st total of 546,100 shares. Based on an average daily trading volume, of 502,100 shares, the days-to-cover ratio is presently 1.3 days.

Analysts Set New Price Targets

Several research firms have recently commented on PRTS. Royal Bank of Canada lowered their price target on shares of CarParts.com from $0.90 to $0.80 and set a “sector perform” rating on the stock in a research report on Wednesday, October 30th. StockNews.com upgraded shares of CarParts.com from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

CarParts.com Stock Up 0.9 %

Shares of PRTS stock traded up $0.01 during trading hours on Monday, reaching $1.17. The company had a trading volume of 413,235 shares, compared to its average volume of 523,073. CarParts.com has a twelve month low of $0.68 and a twelve month high of $2.87. The company has a market capitalization of $67.16 million, a P/E ratio of -2.17 and a beta of 2.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.57 and a current ratio of 1.62. The stock’s fifty day simple moving average is $1.08 and its 200 day simple moving average is $0.96.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PRTS. GSA Capital Partners LLP grew its stake in CarParts.com by 236.5% during 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 boosted its holdings 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 worth $1,198,000 after buying an additional 232,500 shares during the period. Assenagon Asset Management S.A. grew its position in CarParts.com by 145.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 675,371 shares of the specialty retailer’s stock worth $729,000 after purchasing an additional 399,901 shares in the last quarter. FMR LLC raised its position in CarParts.com by 26.6% during the third quarter. FMR LLC now owns 426,441 shares of the specialty retailer’s stock valued at $386,000 after buying an additional 89,645 shares during the period. Finally, Williams & Novak LLC lifted its position in shares of CarParts.com by 19.2% in the fourth quarter. Williams & Novak LLC now owns 151,500 shares of the specialty retailer’s stock worth $164,000 after purchasing an additional 24,400 shares in the last quarter. 75.30% of the stock is currently owned by institutional investors.

About CarParts.com

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.