Motorcar Parts of America (NASDAQ:MPAA) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Motorcar Parts of America, Inc. (NASDAQ:MPAA)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.42 and traded as high as $8.22. Motorcar Parts of America shares last traded at $8.05, with a volume of 83,633 shares.

Analyst Ratings Changes

A number of brokerages have issued reports on MPAA. StockNews.com raised Motorcar Parts of America from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald initiated coverage on Motorcar Parts of America in a research note on Friday, December 20th. They issued an “overweight” rating and a $14.00 price objective for the company.

Motorcar Parts of America Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.39 and a quick ratio of 0.43. The company’s 50 day simple moving average is $6.85 and its 200 day simple moving average is $6.42. The company has a market capitalization of $159.81 million, a PE ratio of -2.30 and a beta of 1.53.

Insider Activity at Motorcar Parts of America

In other news, Director Bison Capital Partners Vi, L.P purchased 50,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were bought at an average price of $6.86 per share, with a total value of $343,000.00. Following the completion of the transaction, the director now directly owns 320,300 shares in the company, valued at approximately $2,197,258. This represents a 18.50 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Motorcar Parts of America

A number of hedge funds have recently modified their holdings of the business. Barclays PLC purchased a new position in shares of Motorcar Parts of America during the third quarter worth about $79,000. Privium Fund Management UK Ltd lifted its position in Motorcar Parts of America by 22.4% during the 2nd quarter. Privium Fund Management UK Ltd now owns 27,509 shares of the auto parts company’s stock worth $163,000 after acquiring an additional 5,038 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Motorcar Parts of America by 24.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,003 shares of the auto parts company’s stock valued at $216,000 after purchasing an additional 6,979 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Motorcar Parts of America in the third quarter valued at approximately $281,000. Finally, Perritt Capital Management Inc raised its stake in shares of Motorcar Parts of America by 6.7% during the second quarter. Perritt Capital Management Inc now owns 78,050 shares of the auto parts company’s stock worth $482,000 after purchasing an additional 4,867 shares during the last quarter. 83.48% of the stock is currently owned by hedge funds and other institutional investors.

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.