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

Motorcar Parts of America, Inc. (NASDAQ:MPAA) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.32 and traded as high as $11.64. Motorcar Parts of America shares last traded at $11.60, with a volume of 261,625 shares changing hands.

Analyst Ratings Changes

Several analysts have commented on MPAA shares. StockNews.com raised Motorcar Parts of America from a “buy” rating to a “strong-buy” rating in a report on Monday, March 10th. Cantor Fitzgerald started coverage on Motorcar Parts of America in a research report on Friday, December 20th. They issued an “overweight” rating and a $14.00 target price on the stock.

Motorcar Parts of America Stock Performance

The firm has a market cap of $227.17 million, a PE ratio of -11.72 and a beta of 1.35. The firm has a 50-day moving average price of $8.45 and a two-hundred day moving average price of $7.32. The company has a quick ratio of 0.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Motorcar Parts of America

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tieton Capital Management LLC lifted its position in shares of Motorcar Parts of America by 22.8% in the fourth quarter. Tieton Capital Management LLC now owns 1,194,361 shares of the auto parts company’s stock valued at $9,077,000 after acquiring an additional 221,925 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its position in Motorcar Parts of America by 17.1% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,115,849 shares of the auto parts company’s stock worth $8,480,000 after buying an additional 162,797 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Motorcar Parts of America by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 961,295 shares of the auto parts company’s stock worth $7,306,000 after buying an additional 2,960 shares in the last quarter. Geode Capital Management LLC lifted its position in Motorcar Parts of America by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 216,019 shares of the auto parts company’s stock worth $1,643,000 after buying an additional 3,025 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in Motorcar Parts of America by 10.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 142,497 shares of the auto parts company’s stock worth $1,083,000 after buying an additional 13,644 shares in the last quarter. Hedge funds and other institutional investors own 83.48% of the company’s stock.

About Motorcar Parts of America

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.