CarParts.com Inc. (NASDAQ:PRTS) closed Tuesday at $7.04 per share, up from $6.86 a day earlier. While CarParts.com Inc. has overperformed by 2.62%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PRTS fell by -18.80%, with highs and lows ranging from $10.11 to $3.91, whereas the simple moving average jumped by 6.59% in the last 200 days.
Top 5 Undervalued Stocks To Own In 2023
Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.
Click here to download your Free Research Report…
Sponsored
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 16.20%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of CarParts.com Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 0.20% 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and PRTS is recording an average volume of 991.59K. On a monthly basis, the volatility of the stock is set at 5.36%, whereas on a weekly basis, it is put at 4.57%, with a gain of 3.53% over the past seven days. Furthermore, long-term investors anticipate a median target price of $12.00, showing growth from the present price of $7.04, 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?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 4.80%. 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 80.60% 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. Oaktop Capital Management II LP’s position in PRTS has increased by 33.98% in the first quarter. The company now owns 3,351,779 shares of the stock, with a value of $20.98 million, following the purchase of 850,110 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in PRTS during the first quarter, upping its stake by 31.25%. During the last quarter, the company dropped down 784,816 additional shares for a total stake of worth $20.63 million, bringing number of shares owned by the company to 3,296,299.
During the first quarter, Cannell Capital LLC subtracted a -91,877 position in PRTS. BlackRock Fund Advisors purchased an additional 17112.0 shares in the last quarter, increasing its holdings by 0.61%, now holding 2.83 million shares worth $17.74 million. At the end of the first quarter, Kanen Wealth Management LLC increased its PRTS holdings by 28.83% and now holds 2.78 million PRTS shares valued at $17.4 million with the added 0.62 million shares during the period. PRTS shares are owned by institutional investors to the tune of 80.60% at present.
