In Tuesday’s session, CarParts.com Inc. (NASDAQ:PRTS) marked $8.59 per share, up from $8.08 in the previous session. While CarParts.com Inc. has overperformed by 6.31%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PRTS fell by -50.32%, with highs and lows ranging from $20.74 to $5.90, whereas the simple moving average fell by -9.67% in the last 200 days.
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On March 04, 2022, Lake Street started tracking CarParts.com Inc. (NASDAQ: PRTS) recommending Buy. DA Davidson also rated PRTS shares as ‘Buy’, setting a target price of $19 on the company’s shares in an initiating report dated September 01, 2020. Craig Hallum Initiated an Buy rating on January 08, 2020, and assigned a price target of $4. Barrington Research initiated its ‘Outperform’ rating for PRTS, as published in its report on September 13, 2018. ROTH Capital’s report from October 09, 2014 suggests a price prediction of $4.50 for PRTS shares, giving the stock a ‘Buy’ rating. Barrington Research also rated the stock as ‘Underperform’.
Analysis of CarParts.com Inc. (PRTS)
Further, the quarter-over-quarter increase in sales is 14.70%, showing a positive trend in the upcoming months.
CarParts.com Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -5.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and PRTS has an average volume of 985.24K. On a monthly basis, the volatility of the stock is set at 6.82%, whereas on a weekly basis, it is put at 8.49%, with a gain of 18.16% over the past seven days. Furthermore, long-term investors anticipate a median target price of $16.00, showing growth from the present price of $8.59, which can serve as yet another indication of whether PRTS is worth investing in or should be passed over.
How Do You Analyze CarParts.com Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 7.40%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 80.90% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in PRTS shares?
The recent increase in stakes in PRTS appears to be a result of several institutional investors and hedge funds increasing their positions. Park West Asset Management LLC’s position in PRTS has increased by 11.57% in the first quarter. The company now owns 5,301,916 shares of the stock, with a value of $36.8 million, following the purchase of 550,000 additional shares during the last quarter. Cannell Capital LLC made another increased to its shares in PRTS during the first quarter, upping its stake by 120.98%. During the last quarter, the company dropped down 1,888,719 additional shares for a total stake of worth $23.94 million, bringing number of shares owned by the company to 3,449,900.
During the first quarter, BlackRock Fund Advisors subtracted a -56,574 position in PRTS. Oaktop Capital Management II LP purchased an additional 0.84 million shares in the last quarter, increasing its holdings by 53.07%, now holding 2.43 million shares worth $16.84 million. At the end of the first quarter, The Vanguard Group, Inc. increased its PRTS holdings by 11.11% and now holds 2.28 million PRTS shares valued at $15.84 million with the added 0.23 million shares during the period. PRTS shares are owned by institutional investors to the tune of 80.90% at present.