Market Analysts see PARTS iD Inc. [ID] falling to $3. Time to buy?

PARTS iD Inc. [AMEX: ID] stock went on an upward path that rose over 33.32% on Tuesday, amounting to a one-week price increase of more than 42.90%. The company report on January 17, 2023 that PARTS iD Announces Review of Strategic Alternatives.

PARTS iD, Inc. (NYSE American: ID) (“PARTS iD” or “Company”), the owner and operator of, among other verticals, “CARiD.com,” a leading digital commerce platform for the automotive aftermarket, today announced that its Board of Directors, led by its Finance & Business Development Committee, is evaluating potential strategic alternatives to maximize shareholder value. As part of the process, the Board is considering a full range of strategic alternatives, which may include financing alternatives, merger, reverse merger, other business combinations, sale of assets, licensing, or other transactions.

PARTS iD has retained Canaccord Genuity as its financial advisor and DLA Piper as its legal counsel to assist in evaluating potential strategic alternatives.

Over the last 12 months, ID stock dropped by -86.17%. The one-year PARTS iD Inc. stock forecast points to a potential upside of 70.0. The average equity rating for ID stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $9.70 million, with 34.06 million shares outstanding and 5.69 million shares in the current float. Compared to the average trading volume of 96.86K shares, ID stock reached a trading volume of 15282397 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on PARTS iD Inc. [ID]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ID shares is $1.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ID stock is a recommendation set at 3.00. 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.

Canaccord Genuity have made an estimate for PARTS iD Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 10, 2022. While these analysts kept the previous recommendation, DA Davidson raised their target price from $10 to $4.25. The new note on the price target was released on November 10, 2021, representing the official price target for PARTS iD Inc. stock. Previously, the target price had yet another raise to $12, while Canaccord Genuity analysts kept a Buy rating on ID stock.

The Average True Range (ATR) for PARTS iD Inc. is set at 0.07, with the Price to Sales ratio for ID stock in the period of the last 12 months amounting to 0.03.

ID Stock Performance Analysis:

PARTS iD Inc. [ID] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 42.90. With this latest performance, ID shares gained by 52.34% in over the last four-week period, additionally sinking by -83.23% over the last 6 months – not to mention a drop of -86.17% 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 ID stock in for the last two-week period is set at 55.03, with the RSI for the last a single of trading hit 63.62, and the three-weeks RSI is set at 47.75 for PARTS iD Inc. [ID]. The present Moving Average for the last 50 days of trading for this stock 0.3409, while it was recorded at 0.2583 for the last single week of trading, and 1.0146 for the last 200 days.

Insight into PARTS iD Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and PARTS iD Inc. [ID] shares currently have an operating margin of -2.04 and a Gross Margin at +18.45. PARTS iD Inc.’s Net Margin is presently recorded at -1.77.

Reflecting on the efficiency of the workforce at the company, PARTS iD Inc. [ID] managed to generate an average of -$73,730 per employee. Receivables Turnover for the company is 204.25 with a Total Asset Turnover recorded at a value of 8.91.PARTS iD Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.30.

PARTS iD Inc. [ID] Insider Position Details

There are presently around $0 million, or 1.90% of ID stock, in the hands of institutional investors. The top three institutional holders of ID stocks are: ANCHOR CAPITAL ADVISORS LLC with ownership of 222,510, which is approximately 0% of the company’s market cap and around 2.20% of the total institutional ownership; BRIDGEWAY CAPITAL MANAGEMENT, LLC, holding 204,700 shares of the stock with an approximate value of $46000.0 in ID stocks shares; and VANGUARD GROUP INC, currently with $33000.0 in ID stock with ownership of nearly 1.097% of the company’s market capitalization.

Positions in PARTS iD Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 6 institutional holders increased their position in PARTS iD Inc. [AMEX:ID] by around 51,894 shares. Additionally, 3 investors decreased positions by around 6,443 shares, while 5 investors held positions by with 624,908 shares. The mentioned changes placed institutional holdings at 683,245 shares, according to the latest SEC report filing. ID stock had 3 new institutional investments in for a total of 44,643 shares, while 0 institutional investors sold positions of 0 shares during the same period.