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

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

In other news, CEO Lev Peker sold 23,125 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $2.30, for a total value of $53,187.50. Following the sale, the chief executive officer now owns 566,629 shares in the company, valued at $1,303,246.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 40.60% of the company’s stock.

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

Several equities research analysts have recently issued reports on PRTS shares. Barrington Research started coverage on shares of U.S. Auto Parts Network in a research note on Wednesday, March 18th. They issued a “buy” rating and a $5.00 price objective on the stock. Craig Hallum started coverage on shares of U.S. Auto Parts Network in a research note on Wednesday, January 8th. They issued a “buy” rating and a $4.00 price objective on the stock. 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 on the stock in a research note on Tuesday, March 17th. Finally, ValuEngine upgraded shares of U.S. Auto Parts Network from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd.

Shares of U.S. Auto Parts Network stock traded up $0.20 during midday trading on Thursday, hitting $1.92. The company had a trading volume of 204,027 shares, compared to its average volume of 194,173. The business’s 50 day simple moving average is $2.39 and its two-hundred day simple moving average is $2.13. The stock has a market cap of $62.99 million, a PE ratio of -2.18 and a beta of 1.36. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.04 and a quick ratio of 0.16. U.S. Auto Parts Network has a 1-year low of $0.92 and a 1-year high of $2.98.

U.S. Auto Parts Network (NASDAQ:PRTS) last issued its earnings results on Monday, March 9th. The specialty retailer reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.65). The firm had revenue of $62.96 million during the quarter, compared to the consensus estimate of $64.00 million. U.S. Auto Parts Network had a negative return on equity of 103.94% and a negative net margin of 11.24%. On average, sell-side analysts expect that U.S. Auto Parts Network will post -0.05 EPS for the current fiscal year.

About U.S. Auto Parts Network

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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