U.S. Auto Parts Network Inc. [NASDAQ: PRTS] price plunged by -4.40 percent to reach at -$0.67. The company report on August 14, 2020 that CarParts.com Announces Pricing of Public Offering of Common Stock.
CarParts.com, Inc. (NASDAQ: PRTS) (“CarParts.com”), one of the leading e-commerce providers of automotive parts and accessories, today announced the pricing of an underwritten public offering of 6,000,000 shares of its common stock at a price to the public of $13.00 per share. Of the shares being offered, 4,000,000 are being offered by CarParts.com and the remaining 2,000,000 shares are being offered by an existing stockholder. CarParts.com has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock in the offering at the public offering price. The gross proceeds to CarParts.com from the offering, before underwriting discounts and commissions and offering costs, are expected to be $52,000,000. CarParts.com intends to use the net proceeds from the proposed offering for general corporate purposes, including working capital. The offering is expected to close on or about August 18, 2020, subject to satisfaction of customary closing conditions.
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A sum of 2297181 shares traded at recent session while its average daily volume was at 1.22M shares. U.S. Auto Parts Network Inc. shares reached a high of $15.94 and dropped to a low of $13.54 until finishing in the latest session at $14.54.
The one-year PRTS stock forecast points to a potential downside of -17.92. The average equity rating for PRTS stock is currently 1.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on U.S. Auto Parts Network Inc. [PRTS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRTS shares is $12.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRTS stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Craig Hallum have made an estimate for U.S. Auto Parts Network Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 08, 2020. While these analysts kept the previous recommendation, Barrington Research raised their target price to Outperform. The new note on the price target was released on September 13, 2018, representing the official price target for U.S. Auto Parts Network Inc. stock. Previously, the target price had yet another raise to $4.50, while ROTH Capital analysts kept a Buy rating on PRTS stock.
The Average True Range (ATR) for U.S. Auto Parts Network Inc. is set at 1.36, with the Price to Sales ratio for PRTS stock in the period of the last 12 months amounting to 2.09. The Price to Book ratio for the last quarter was 35.46. Price to Free Cash Flow for PRTS in the course of the last twelve months was 63.27 with Quick ratio for the last quarter at 0.30.
PRTS Stock Performance Analysis:
U.S. Auto Parts Network Inc. [PRTS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.83. With this latest performance, PRTS shares gained by 34.01% in over the last four-week period, additionally plugging by 450.76% over the last 6 months – not to mention a rise of 1132.31% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRTS stock in for the last two-week period is set at 64.33, with the RSI for the last a single of trading hit 63.75, and the three-weeks RSI is set at 65.78 for U.S. Auto Parts Network Inc. [PRTS]. The present Moving Average for the last 50 days of trading for this stock 10.75, while it was recorded at 13.96 for the last single week of trading, and 4.77 for the last 200 days.
Insight into U.S. Auto Parts Network Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and U.S. Auto Parts Network Inc. [PRTS] shares currently have an operating margin of -2.94 and a Gross Margin at +27.75. U.S. Auto Parts Network Inc.’s Net Margin is presently recorded at -11.24.
Return on Total Capital for PRTS is now -16.39, given the latest momentum, and Return on Invested Capital for the company is -86.59. Return on Equity for this stock declined to -123.23, with Return on Assets sitting at -33.93. When it comes to the capital structure of this company, U.S. Auto Parts Network Inc. [PRTS] has a Total Debt to Total Equity ratio set at 233.07. Additionally, PRTS Total Debt to Total Capital is recorded at 69.98, with Total Debt to Total Assets ending up at 32.81. Long-Term Debt to Equity for the company is recorded at 105.89, with the Long-Term Debt to Total Capital now at 31.78.
Reflecting on the efficiency of the workforce at the company, U.S. Auto Parts Network Inc. [PRTS] managed to generate an average of -$37,423 per employee. Receivables Turnover for the company is 87.76 with a Total Asset Turnover recorded at a value of 3.02.U.S. Auto Parts Network Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 1.10.
PRTS Stock EPS
With the latest financial reports released by the company, U.S. Auto Parts Network Inc. posted -0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -33.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PRTS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for U.S. Auto Parts Network Inc. go to 15.00%.
U.S. Auto Parts Network Inc. [PRTS] Insider Position Details
There are presently around $172 million, or 36.30% of PRTS stock, in the hands of institutional investors. The top three institutional holders of PRTS stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 2,855,855, which is approximately 68.83% of the company’s market cap and around 4.60% of the total institutional ownership; CANNELL CAPITAL LLC, holding 1,712,230 shares of the stock with an approximate value of $24.9 million in PRTS stocks shares; and NORTH STAR INVESTMENT MANAGEMENT CORP., currently with $22.66 million in PRTS stock with ownership of nearly -50.468% of the company’s market capitalization.
Positions in U.S. Auto Parts Network Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 60 institutional holders increased their position in U.S. Auto Parts Network Inc. [NASDAQ:PRTS] by around 4,930,988 shares. Additionally, 12 investors decreased positions by around 3,460,221 shares, while 4 investors held positions by with 3,465,143 shares. The mentioned changes placed institutional holdings at 11,856,352 shares, according to the latest SEC report filing. PRTS stock had 49 new institutional investments in for a total of 2,551,803 shares, while 5 institutional investors sold positions of 1,537,762 shares during the same period.