PetMed Express, Inc. (NASDAQ:PETS) Short Interest Down 20.6% in November

PetMed Express, Inc. (NASDAQ:PETS) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,350,000 shares, a decline of 20.6% from the October 31st total of 1,700,000 shares. Currently, 7.6% of the shares of the company are short sold. Based on an average daily volume of 247,300 shares, the short-interest ratio is currently 5.5 days.

PetMed Express Trading Down 1.5 %

NASDAQ PETS traded down $0.07 during trading hours on Friday, hitting $4.63. The company’s stock had a trading volume of 78,585 shares, compared to its average volume of 364,242. The stock has a fifty day moving average of $4.26 and a 200 day moving average of $3.96. PetMed Express has a twelve month low of $2.90 and a twelve month high of $7.90.

PetMed Express (NASDAQ:PETS) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.17. PetMed Express had a negative return on equity of 1.00% and a negative net margin of 0.37%. The company had revenue of $59.57 million during the quarter, compared to analysts’ expectations of $66.02 million. On average, analysts predict that PetMed Express will post 0.24 EPS for the current year.

Insider Transactions at PetMed Express

In other news, major shareholder Nina Capital Holdings Inc. purchased 12,500 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $3.34 per share, for a total transaction of $41,750.00. Following the completion of the purchase, the insider now directly owns 2,078,000 shares of the company’s stock, valued at approximately $6,940,520. The trade was a 0.61 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PetMed Express

A number of hedge funds and other institutional investors have recently made changes to their positions in PETS. Independent Advisor Alliance acquired a new stake in PetMed Express during the 3rd quarter worth $106,000. Bleakley Financial Group LLC acquired a new stake in shares of PetMed Express during the third quarter worth about $279,000. Point72 DIFC Ltd bought a new position in shares of PetMed Express during the 2nd quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PetMed Express in the 2nd quarter valued at approximately $135,000. Finally, Squarepoint Ops LLC bought a new stake in PetMed Express during the 2nd quarter worth approximately $273,000. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of PetMed Express from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Lake Street Capital reissued a “hold” rating and set a $3.50 price objective (down previously from $7.00) on shares of PetMed Express in a report on Wednesday, August 7th.

About PetMed Express

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.