CarParts.com (NASDAQ:PRTS) Stock Crosses Above 200 Day Moving Average – Time to Sell?

CarParts.com, Inc. (NASDAQ:PRTS) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.98 and traded as high as $1.12. CarParts.com shares last traded at $0.98, with a volume of 619,812 shares changing hands.

Analyst Ratings Changes

Separately, Craig Hallum raised shares of CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a report on Thursday, March 6th.

CarParts.com Trading Down 10.1 %

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 has a market capitalization of $56.25 million, a price-to-earnings ratio of -1.81 and a beta of 2.11. The business has a fifty day simple moving average of $1.12 and a 200 day simple moving average of $0.98.

Hedge Funds Weigh In On CarParts.com

Several institutional investors and hedge funds have recently modified their holdings of PRTS. Cannell Capital LLC bought a new stake in CarParts.com in the 4th quarter valued at about $1,249,000. Oaktop Capital Management II L.P. raised its position in shares of CarParts.com by 23.4% in the fourth quarter. Oaktop Capital Management II L.P. now owns 4,597,302 shares of the specialty retailer’s stock valued at $4,965,000 after buying an additional 872,117 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of CarParts.com by 236.5% in the third quarter. GSA Capital Partners LLP now owns 1,233,829 shares of the specialty retailer’s stock valued at $1,118,000 after buying an additional 867,140 shares during the period. Assenagon Asset Management S.A. grew its position in CarParts.com by 145.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 675,371 shares of the specialty retailer’s stock worth $729,000 after buying an additional 399,901 shares in the last quarter. Finally, AMH Equity Ltd bought a new position in CarParts.com during the 4th quarter worth $368,000. 75.30% of the stock is currently owned by institutional investors and hedge funds.

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.