CarParts.com (NASDAQ:PRTS) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

CarParts.com, Inc. (NASDAQ:PRTS)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.96 and traded as high as $1.09. CarParts.com shares last traded at $1.01, with a volume of 472,514 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PRTS. Royal Bank of Canada lowered their price objective 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 raised shares of CarParts.com from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

CarParts.com Price Performance

The business has a fifty day simple moving average of $1.10 and a 200 day simple moving average of $0.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 0.57.

Institutional Trading of CarParts.com

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Thompson Davis & CO. Inc. acquired a new position in CarParts.com during the fourth quarter worth about $27,000. Raymond James Financial Inc. purchased a new stake in shares of CarParts.com during the 4th quarter worth approximately $39,000. Squarepoint Ops LLC acquired a new stake in shares of CarParts.com in the 4th quarter worth approximately $71,000. XTX Topco Ltd increased its stake in CarParts.com by 14.9% in the 3rd quarter. XTX Topco Ltd now owns 78,917 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 10,230 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in CarParts.com by 8.6% during the fourth quarter. Northern Trust Corp now owns 138,525 shares of the specialty retailer’s stock worth $150,000 after purchasing an additional 10,954 shares during the last quarter. Institutional investors and hedge funds own 75.30% of the company’s stock.

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.