PetMed Express (NASDAQ:PETS) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

PetMed Express, Inc. (NASDAQ:PETS)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.14 and traded as high as $4.93. PetMed Express shares last traded at $4.64, with a volume of 345,642 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of PetMed Express from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th.

PetMed Express Trading Up 2.8 %

The stock has a market capitalization of $98.56 million, a price-to-earnings ratio of -79.50 and a beta of 0.69. The firm has a 50-day moving average of $4.98 and a 200 day moving average of $4.14.

PetMed Express (NASDAQ:PETS) last posted its earnings results on Wednesday, November 6th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.17. The business had revenue of $59.57 million for the quarter, compared to analysts’ expectations of $66.02 million. PetMed Express had a negative net margin of 0.37% and a negative return on equity of 1.00%. As a group, research analysts forecast that PetMed Express, Inc. will post 0.24 EPS for the current year.

Insider Buying and Selling at PetMed Express

In other PetMed Express news, Director Leslie C.G. Campbell bought 15,000 shares of PetMed Express stock in a transaction dated Wednesday, December 4th. The stock was bought at an average cost of $5.38 per share, for a total transaction of $80,700.00. Following the purchase, the director now owns 70,000 shares in the company, valued at $376,600. This represents a 27.27 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PetMed Express

A number of institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. lifted its holdings in PetMed Express by 54.5% during the 2nd quarter. Federated Hermes Inc. now owns 606,430 shares of the company’s stock worth $2,456,000 after buying an additional 213,903 shares during the last quarter. Sei Investments Co. boosted its position in PetMed Express by 8.3% during the 2nd quarter. Sei Investments Co. now owns 44,220 shares of the company’s stock valued at $179,000 after purchasing an additional 3,400 shares during the period. Marshall Wace LLP acquired a new stake in shares of PetMed Express in the 2nd quarter worth about $46,000. Point72 DIFC Ltd bought a new stake in shares of PetMed Express during the second quarter valued at approximately $34,000. Finally, Cubist Systematic Strategies LLC acquired a new position in PetMed Express during the 2nd quarter worth $797,000. 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 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.