U.S. Auto Parts Netw Down 22.39% To $2.60 After Earnings Beat

U.S. Auto Parts Netw (PRTS) said after close Monday that it lost $0.04 per share in quarter three 2023.

On the revenue line, the company reported $166.9 million, missing estimates by $5 million.

In the same quarter a year ago, the company lost $0.02 per share on revenue of $164.8 million.

The stock is down 22.39% to $2.60 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned U.S. Auto Parts Netw a Bearish Sentiment Rank from InvestorsObserver.

U.S. Auto Parts Netw has performed a little below average during the past few months. Before the report, U.S. Auto Parts Netw received a Long-Term Technical Rank by InvestorsObserver of 33, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $3.33 on October 27, 2023 and set a 52-week high on February 2, 2023 at $7.44.

CarParts.com Inc is an online provider of automotive aftermarket parts and repair information. The company principally sells its products to individual consumers through its network of websites and online marketplaces. The company's products consist of collision parts serving the body repair market, engine parts to serve the replacement parts market, and performance parts and accessories.