Motorcar Parts of America (NASDAQ:MPAA) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Motorcar Parts of America, Inc. (NASDAQ:MPAA)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.57 and traded as high as $7.21. Motorcar Parts of America shares last traded at $7.20, with a volume of 35,352 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MPAA. StockNews.com raised shares of Motorcar Parts of America from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald assumed coverage on shares of Motorcar Parts of America in a report on Friday, December 20th. They set an “overweight” rating and a $14.00 price objective on the stock.

Motorcar Parts of America Stock Up 1.7 %

The firm has a 50 day moving average of $7.41 and a two-hundred day moving average of $6.57. The stock has a market capitalization of $142.92 million, a PE ratio of -2.06 and a beta of 1.49. The company has a current ratio of 1.39, a quick ratio of 0.43 and a debt-to-equity ratio of 0.12.

Insider Activity

In other Motorcar Parts of America news, Director Bison Capital Partners Vi, L.P purchased 50,000 shares of Motorcar Parts of America stock in a transaction on Thursday, November 14th. The shares were bought at an average price of $6.86 per share, with a total value of $343,000.00. Following the completion of the acquisition, the director now directly owns 320,300 shares of the company’s stock, valued at approximately $2,197,258. This trade represents a 18.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Barclays PLC acquired a new stake in Motorcar Parts of America during the 3rd quarter valued at $79,000. Geode Capital Management LLC lifted its position in shares of Motorcar Parts of America by 15.1% in the third quarter. Geode Capital Management LLC now owns 212,994 shares of the auto parts company’s stock valued at $1,574,000 after acquiring an additional 27,961 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Motorcar Parts of America by 3.1% during the third quarter. Captrust Financial Advisors now owns 99,635 shares of the auto parts company’s stock valued at $736,000 after acquiring an additional 3,005 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Motorcar Parts of America by 20.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 42,201 shares of the auto parts company’s stock worth $312,000 after purchasing an additional 7,198 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Motorcar Parts of America by 9.1% in the 3rd quarter. Victory Capital Management Inc. now owns 96,000 shares of the auto parts company’s stock valued at $709,000 after purchasing an additional 8,000 shares during the last quarter. 83.48% of the stock is currently owned by institutional investors and hedge funds.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.