PetMed Express, Inc. (NASDAQ:PETS) Short Interest Update

PetMed Express, Inc. (NASDAQ:PETS) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 2,090,000 shares, a growth of 16.8% from the August 15th total of 1,790,000 shares. Approximately 10.4% of the shares of the company are short sold. Based on an average trading volume of 356,300 shares, the short-interest ratio is currently 5.9 days.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Lake Street Capital restated a “hold” rating and set a $3.50 price objective (down previously from $7.00) on shares of PetMed Express in a research report on Wednesday, August 7th. Morgan Stanley decreased their price objective on PetMed Express from $6.50 to $3.50 and set an “underweight” rating for the company in a report on Wednesday, June 12th.

PetMed Express Trading Up 2.5 %

Shares of PETS traded up $0.09 during trading hours on Tuesday, reaching $3.66. 31,134 shares of the company traded hands, compared to its average volume of 358,978. The firm has a market cap of $75.40 million, a price-to-earnings ratio of -9.15 and a beta of 0.71. PetMed Express has a 12-month low of $2.90 and a 12-month high of $11.80. The stock’s fifty day moving average price is $3.48 and its 200 day moving average price is $4.07.

PetMed Express (NASDAQ:PETS) last issued its earnings results on Tuesday, August 6th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.30. PetMed Express had a negative return on equity of 3.44% and a negative net margin of 1.24%. The business had revenue of $67.95 million during the quarter, compared to analysts’ expectations of $77.52 million. On average, research analysts forecast that PetMed Express will post 0.08 earnings per share for the current year.

Institutional Trading of PetMed Express

Institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of PetMed Express by 2,025.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 700,916 shares of the company’s stock worth $3,357,000 after buying an additional 667,946 shares during the period. Invenomic Capital Management LP acquired a new position in shares of PetMed Express in the fourth quarter valued at about $1,631,000. Federated Hermes Inc. raised its stake in shares of PetMed Express by 54.5% in the second quarter. Federated Hermes Inc. now owns 606,430 shares of the company’s stock worth $2,456,000 after purchasing an additional 213,903 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of PetMed Express during the second quarter worth about $797,000. Finally, Squarepoint Ops LLC purchased a new stake in PetMed Express in the second quarter valued at approximately $273,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

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 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.