Fenix Parts Inc (FENX) Rating Lowered to Sell at Zacks Investment Research

Fenix Parts Inc (NASDAQ:FENX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday, July 24th.

According to Zacks, “Fenix Parts, Inc. is a recycler and reseller of original equipment manufacturer automotive products primarily in the United States and Canada. The company’s primary business includes auto recycling, which is the recovery and resale of OEM parts, components and systems reclaimed from damaged, totaled or low value vehicles. It serves collision repair shops, mechanical repair shops, auto dealerships and individual retail customers. Fenix Parts, Inc. is headquartered in Miami, Florida. “

Shares of Fenix Parts (FENX) opened at 0.80 on Monday. The company has a 50-day moving average price of $0.56 and a 200 day moving average price of $1.31. The firm’s market capitalization is $16.03 million. Fenix Parts has a 52-week low of $0.40 and a 52-week high of $5.38.

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Several hedge funds have recently made changes to their positions in the stock. Royce & Associates LP boosted its stake in shares of Fenix Parts by 3.3% in the first quarter. Royce & Associates LP now owns 1,582,264 shares of the auto parts company’s stock worth $2,453,000 after buying an additional 50,000 shares during the last quarter. Sanders Morris Harris Inc. boosted its stake in shares of Fenix Parts by 52.5% in the first quarter. Sanders Morris Harris Inc. now owns 138,350 shares of the auto parts company’s stock worth $214,000 after buying an additional 47,600 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Fenix Parts by 1.0% in the first quarter. HighTower Advisors LLC now owns 313,227 shares of the auto parts company’s stock worth $486,000 after buying an additional 3,000 shares during the last quarter. Institutional investors own 52.32% of the company’s stock.

About Fenix Parts

Fenix Parts, Inc is engaged in auto recycling business. The Company recovers and resells original equipment manufacturer (OEM) parts, components and systems, such as engines, transmissions, radiators, trunks, lamps and seats reclaimed from damaged, totaled or low value vehicles. The Company operates through Automobile Recycling segment.

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