U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 472,700 shares, a decline of 12.5% from the May 15th total of 540,000 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average daily trading volume, of 97,100 shares, the days-to-cover ratio is presently 4.9 days.
Several equities research analysts have commented on the company. ValuEngine cut Valero Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Barrington Research set a $5.00 target price on U.S. Auto Parts Network and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Zacks Investment Research cut Hess Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th.
Shares of U.S. Auto Parts Network stock opened at $1.26 on Friday. U.S. Auto Parts Network has a 12-month low of $0.88 and a 12-month high of $1.80. The company has a current ratio of 1.09, a quick ratio of 0.24 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $1.15.
U.S. Auto Parts Network (NASDAQ:PRTS) last posted its quarterly earnings results on Thursday, May 9th. The specialty retailer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). U.S. Auto Parts Network had a negative net margin of 2.84% and a negative return on equity of 20.27%. The business had revenue of $74.74 million during the quarter, compared to the consensus estimate of $77.60 million. As a group, equities analysts expect that U.S. Auto Parts Network will post -0.21 earnings per share for the current fiscal year.
In other U.S. Auto Parts Network news, VP Alfredo Gomez acquired 69,796 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average cost of $0.96 per share, for a total transaction of $67,004.16. Following the transaction, the vice president now owns 500 shares of the company’s stock, valued at $480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Meniane acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average price of $1.03 per share, with a total value of $103,000.00. Following the completion of the transaction, the chief financial officer now directly owns 100,000 shares in the company, valued at approximately $103,000. The disclosure for this purchase can be found here. Insiders have bought a total of 906,612 shares of company stock valued at $899,923 over the last 90 days. Corporate insiders own 40.60% of the company’s stock.
A hedge fund recently raised its stake in U.S. Auto Parts Network stock. North Star Investment Management Corp. raised its position in U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,940,736 shares of the specialty retailer’s stock after purchasing an additional 154,051 shares during the quarter. North Star Investment Management Corp. owned 5.48% of U.S. Auto Parts Network worth $1,960,000 as of its most recent SEC filing. 26.72% of the stock is owned by hedge funds and other institutional investors.
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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