Short Interest in PetMed Express, Inc. (NASDAQ:PETS) Decreases By 60.9%

by · The Cerbat Gem

PetMed Express, Inc. (NASDAQ:PETS – Get Free Report) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 1,056,449 shares, a drop of 60.9% from the December 15th total of 2,698,921 shares. Currently, 5.0% of the shares of the stock are sold short. Based on an average daily volume of 1,489,468 shares, the short-interest ratio is presently 0.7 days. Based on an average daily volume of 1,489,468 shares, the short-interest ratio is presently 0.7 days. Currently, 5.0% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. R Squared Ltd purchased a new stake in PetMed Express during the second quarter valued at about $34,000. Occudo Quantitative Strategies LP acquired a new position in shares of PetMed Express during the second quarter worth approximately $51,000. Oxford Asset Management LLP acquired a new position in PetMed Express in the 2nd quarter valued at approximately $55,000. CIBC Private Wealth Group LLC bought a new position in shares of PetMed Express during the 3rd quarter worth about $75,000. Finally, Bridgeway Capital Management LLC boosted its stake in PetMed Express by 96.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 40,800 shares of the company’s stock valued at $135,000 after buying an additional 20,000 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

PetMed Express Stock Up 1.7%

Shares of PETS stock traded up $0.06 on Wednesday, reaching $3.49. 174,936 shares of the stock were exchanged, compared to its average volume of 337,258. The stock has a market cap of $74.58 million, a P/E ratio of -1.32 and a beta of 0.65. The firm has a 50 day moving average of $2.66 and a two-hundred day moving average of $2.85. PetMed Express has a 1-year low of $1.57 and a 1-year high of $5.58.

PetMed Express (NASDAQ:PETS – Get Free Report) last posted its earnings results on Friday, December 19th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.45). PetMed Express had a negative return on equity of 40.26% and a negative net margin of 28.22%.The business had revenue of $44.36 million for the quarter. On average, equities research analysts predict that PetMed Express will post 0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PETS shares. Wall Street Zen downgraded PetMed Express from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Zacks Research raised shares of PetMed Express from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of PetMed Express in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Sell” and an average target price of $3.20.

Read Our Latest Report on PETS

PetMed Express Company Profile

(Get Free Report)

PetMed Express, Inc operates as an online and catalog-based pet pharmacy and retail supplier under the 1-800-PetMeds brand name. The company distributes prescription and non‐prescription medications, nutritional supplements, flea and tick control products, and a range of pet health supplies directly to consumers. Through its licensed veterinary pharmacy in Delray Beach, Florida, PetMed Express fills orders for dogs, cats and other companion animals, offering both branded and generic products alongside its own private‐label formulations.

Founded in 1996 by Marc Puleo, PetMed Express built its business on the premise of convenience and cost savings for pet owners seeking reliable access to veterinary medications.

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