Wag! Group (NASDAQ:PET) Trading Down 8.2% – What’s Next?

Shares of Wag! Group Co. (NASDAQ:PET) fell 8.2% during mid-day trading on Monday . The stock traded as low as $0.77 and last traded at $0.77. 283,676 shares were traded during mid-day trading, an increase of 160% from the average session volume of 109,253 shares. The stock had previously closed at $0.84.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Oppenheimer decreased their target price on shares of Wag! Group from $6.00 to $3.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Roth Mkm reduced their price objective on Wag! Group from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Wag! Group presently has an average rating of “Buy” and a consensus target price of $4.40.

Wag! Group Trading Up 2.6 %

The company’s 50 day moving average price is $0.85 and its two-hundred day moving average price is $1.42. The firm has a market cap of $33.84 million, a PE ratio of -2.31 and a beta of 1.75.

Wag! Group (NASDAQ:PET) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm had revenue of $18.65 million for the quarter, compared to analysts’ expectations of $18.60 million. Wag! Group had a negative return on equity of 1,880.60% and a negative net margin of 14.24%. Equities research analysts expect that Wag! Group Co. will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at Wag! Group

In other Wag! Group news, CFO Alec Davidian sold 36,204 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $0.72, for a total transaction of $26,066.88. Following the sale, the chief financial officer now directly owns 839,400 shares of the company’s stock, valued at $604,368. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CMO Patrick Mccarthy sold 46,544 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $0.72, for a total transaction of $33,511.68. Following the completion of the transaction, the chief marketing officer now directly owns 722,605 shares of the company’s stock, valued at approximately $520,275.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alec Davidian sold 36,204 shares of Wag! Group stock in a transaction on Monday, September 9th. The shares were sold at an average price of $0.72, for a total transaction of $26,066.88. Following the completion of the sale, the chief financial officer now owns 839,400 shares in the company, valued at approximately $604,368. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 251,727 shares of company stock valued at $188,048 over the last three months. Corporate insiders own 23.20% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Wag! Group stock. Cowen AND Company LLC purchased a new position in Wag! Group Co. (NASDAQ:PET) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 45,000 shares of the company’s stock, valued at approximately $72,000. Cowen AND Company LLC owned about 0.11% of Wag! Group as of its most recent filing with the Securities and Exchange Commission (SEC). 86.16% of the stock is currently owned by hedge funds and other institutional investors.

About Wag! Group

Wag! Group Co develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents. Its platform allows pet parents, who require specific pet care services, such as dog walking, pet sitting and boarding, advice from licensed pet experts, home visits, training, and pet insurance comparison tools.