Motorcar Parts of America (NASDAQ:MPAA) Share Price Passes Above 200-Day Moving Average – Here’s Why

Motorcar Parts of America, Inc. (NASDAQ:MPAA) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.52 and traded as high as $8.12. Motorcar Parts of America shares last traded at $7.92, with a volume of 49,608 shares.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MPAA. StockNews.com upgraded Motorcar Parts of America from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Cantor Fitzgerald began coverage on shares of Motorcar Parts of America in a research report on Friday, December 20th. They issued an “overweight” rating and a $14.00 target price for the company.

Motorcar Parts of America Stock Up 2.3 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.39 and a quick ratio of 0.43. The business has a 50 day simple moving average of $7.14 and a 200 day simple moving average of $6.52. The stock has a market cap of $157.23 million, a PE ratio of -2.26 and a beta of 1.49.

Insider Activity at Motorcar Parts of America

In other Motorcar Parts of America news, Director Bison Capital Partners Vi, L.P acquired 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $6.86 per share, for a total transaction of $343,000.00. Following the completion of the acquisition, the director now owns 320,300 shares of the company’s stock, valued at approximately $2,197,258. This trade represents a 18.50 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Motorcar Parts of America

Several institutional investors have recently bought and sold shares of MPAA. Barclays PLC acquired a new position in shares of Motorcar Parts of America during the 3rd quarter valued at about $79,000. Oppenheimer Asset Management Inc. grew its holdings in Motorcar Parts of America by 24.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 35,003 shares of the auto parts company’s stock valued at $216,000 after purchasing an additional 6,979 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Motorcar Parts of America during the third quarter valued at approximately $281,000. Perritt Capital Management Inc raised its position in shares of Motorcar Parts of America by 6.7% in the second quarter. Perritt Capital Management Inc now owns 78,050 shares of the auto parts company’s stock valued at $482,000 after purchasing an additional 4,867 shares during the period. Finally, Equitable Trust Co. lifted its stake in shares of Motorcar Parts of America by 9.3% in the third quarter. Equitable Trust Co. now owns 67,965 shares of the auto parts company’s stock worth $502,000 after buying an additional 5,780 shares during the last quarter. 83.48% of the stock is currently owned by institutional investors.

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.