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

Motorcar Parts of America, Inc. (NASDAQ:MPAA)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.32 and traded as high as $11.64. Motorcar Parts of America shares last traded at $11.60, with a volume of 261,625 shares trading hands.

Analysts Set New Price Targets

MPAA has been the topic of a number of research analyst reports. StockNews.com raised shares of Motorcar Parts of America from a “buy” rating to a “strong-buy” rating in a report on Monday, March 10th. Cantor Fitzgerald initiated coverage on shares of Motorcar Parts of America in a research note on Friday, December 20th. They issued an “overweight” rating and a $14.00 target price on the stock.

Motorcar Parts of America Stock Down 4.4 %

The firm has a market capitalization of $206.81 million, a PE ratio of -10.67 and a beta of 1.35. The stock has a 50-day simple moving average of $8.52 and a 200-day simple moving average of $7.35. The company has a quick ratio of 0.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Motorcar Parts of America

Several large investors have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its position in Motorcar Parts of America by 4.7% during the fourth quarter. Northern Trust Corp now owns 52,469 shares of the auto parts company’s stock worth $399,000 after purchasing an additional 2,347 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Motorcar Parts of America by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 961,295 shares of the auto parts company’s stock valued at $7,306,000 after buying an additional 2,960 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Motorcar Parts of America by 3.1% in the 3rd quarter. Captrust Financial Advisors now owns 99,635 shares of the auto parts company’s stock worth $736,000 after buying an additional 3,005 shares during the period. Geode Capital Management LLC grew its stake in Motorcar Parts of America by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 216,019 shares of the auto parts company’s stock valued at $1,643,000 after buying an additional 3,025 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in Motorcar Parts of America by 20.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 42,201 shares of the auto parts company’s stock valued at $312,000 after acquiring an additional 7,198 shares during the period. Hedge funds and other institutional investors own 83.48% of the company’s stock.

Motorcar Parts of America Company Profile

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.