U.S. Auto Parts Network's Share Price Halved: Time to Buy

The value of US Auto Parts Network (PRTS) shares were rapidly halved and were recently trading at $5.86 Wednesday morning. This stock is a great buy at a price near $5.86 for trading purposes.

Though in an early press release PRTS just reported a net loss for the fourth quarter of 2006 was $(0.02) million, net sales for fiscal year 2006 were $120.1 million, an increase of 101% from $59.7 million for fiscal year 2005. Net income for the fiscal year ending December 31, 2006 was $3.5 million.

Overreaction by the market in a volatile auto parts arena? I think so.

Disclosure: Author has a position in PRTS.

PRTS 1-yr chart

Comments

[Aaron Krawitz:]

Saturday Update:

A lawsuit is now pending:

biz.yahoo.com/pz/07032...

Maybe I should have made this clearer but this stock wasn’t intended to be a long term hold.

As in the article “This stock is a great buy at a price near $5.86 for trading purposes.”

For a personal update, I sold out on Friday at the end of the day for a nice profit as it ended the trading day at $6.08.

2007 Mar 25 03:02 PM