U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) Short Interest Down 81.3% in March

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U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) was the recipient of a large decrease in short interest in March. As of March 13th, there was short interest totalling 58,200 shares, a decrease of 81.3% from the February 27th total of 311,500 shares. Based on an average daily trading volume, of 202,000 shares, the short-interest ratio is presently 0.3 days. Currently, 0.3% of the shares of the stock are sold short.

Shares of NASDAQ:PRTS traded up $0.20 during trading hours on Thursday, hitting $1.92. 204,027 shares of the company’s stock traded hands, compared to its average volume of 194,173. U.S. Auto Parts Network has a 52 week low of $0.92 and a 52 week high of $2.98. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.16 and a current ratio of 1.04. The company’s fifty day simple moving average is $2.39 and its two-hundred day simple moving average is $2.13. The company has a market cap of $62.99 million, a price-to-earnings ratio of -2.18 and a beta of 1.36.

U.S. Auto Parts Network (NASDAQ:PRTS) last posted its quarterly earnings data on Monday, March 9th. The specialty retailer reported ($0.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.65). U.S. Auto Parts Network had a negative net margin of 11.24% and a negative return on equity of 103.94%. The business had revenue of $62.96 million for the quarter, compared to the consensus estimate of $64.00 million. On average, analysts anticipate that U.S. Auto Parts Network will post -0.05 EPS for the current fiscal year.

PRTS has been the subject of several research reports. Zacks Investment Research upgraded shares of U.S. Auto Parts Network from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a research report on Tuesday, March 17th. Barrington Research initiated coverage on shares of U.S. Auto Parts Network in a research report on Wednesday, March 18th. They set a “buy” rating and a $5.00 price objective for the company. ValuEngine upgraded shares of U.S. Auto Parts Network from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, Craig Hallum initiated coverage on shares of U.S. Auto Parts Network in a research report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price objective for the company.

In related news, CEO Lev Peker sold 23,125 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $2.30, for a total value of $53,187.50. Following the completion of the transaction, the chief executive officer now owns 566,629 shares in the company, valued at approximately $1,303,246.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 40.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in U.S. Auto Parts Network by 11.0% during the fourth quarter. Geode Capital Management LLC now owns 120,236 shares of the specialty retailer’s stock valued at $264,000 after buying an additional 11,942 shares in the last quarter. Virtu Financial LLC purchased a new stake in U.S. Auto Parts Network during the third quarter valued at about $57,000. North Star Investment Management Corp. lifted its stake in U.S. Auto Parts Network by 1.7% during the fourth quarter. North Star Investment Management Corp. now owns 2,515,820 shares of the specialty retailer’s stock valued at $5,535,000 after buying an additional 40,945 shares in the last quarter. Renaissance Technologies LLC lifted its stake in U.S. Auto Parts Network by 7.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,571,439 shares of the specialty retailer’s stock valued at $3,457,000 after buying an additional 103,433 shares in the last quarter. Finally, EAM Investors LLC purchased a new stake in U.S. Auto Parts Network during the fourth quarter valued at about $945,000. 26.54% of the stock is owned by institutional investors.

U.S. Auto Parts Network Company Profile

U.S. Auto Parts Network, Inc, together with its subsidiaries, operates as an online provider of aftermarket auto parts and accessories primarily in the United States and the Philippines. It offers collision parts, such as parts for the exterior of an automobile; mirror products; engine parts comprising engine and chassis components, as well as other mechanical and electrical parts; and performance parts and accessories to individual consumers through its network of e-commerce Websites and online marketplaces.

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