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

PetMed Express, Inc. (NASDAQ:PETS) saw a large drop in short interest in the month of 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. Approximately 5.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,489,468 shares, the short-interest ratio is currently 0.7 days. Based on an average daily trading volume, of 1,489,468 shares, the short-interest ratio is currently 0.7 days. Approximately 5.0% of the company’s shares are sold short.

PetMed Express Stock Up 1.7%

Shares of PETS stock traded up $0.06 during trading hours on Wednesday, reaching $3.49. The company’s stock had a trading volume of 174,936 shares, compared to its average volume of 337,258. PetMed Express has a fifty-two week low of $1.57 and a fifty-two week high of $5.58. The firm’s 50 day simple moving average is $2.66 and its 200-day simple moving average is $2.85. The company has a market capitalization of $74.58 million, a price-to-earnings ratio of -1.32 and a beta of 0.65.

PetMed Express (NASDAQ:PETS) last announced its quarterly earnings results on Friday, December 19th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.45). The company had revenue of $44.36 million for the quarter. PetMed Express had a negative return on equity of 40.26% and a negative net margin of 28.22%. Sell-side analysts predict that PetMed Express will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PetMed Express in a report on Monday, December 29th. Wall Street Zen cut shares of PetMed Express from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Finally, Zacks Research upgraded shares of PetMed Express from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Sell” and a consensus price target of $3.20.

Hedge Funds Weigh In On PetMed Express

Several institutional investors have recently added to or reduced their stakes in PETS. CIBC Private Wealth Group LLC bought a new stake in PetMed Express during the 3rd quarter valued at $75,000. CIBC Bancorp USA Inc. bought a new position in PetMed Express during the third quarter valued at about $153,000. Man Group plc raised its holdings in shares of PetMed Express by 7.1% in the 3rd quarter. Man Group plc now owns 151,039 shares of the company’s stock worth $379,000 after purchasing an additional 9,989 shares during the period. Bridgeway Capital Management LLC grew its stake in shares of PetMed Express by 164.3% during the 3rd quarter. Bridgeway Capital Management LLC now owns 107,816 shares of the company’s stock worth $271,000 after acquiring an additional 67,016 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in PetMed Express by 5.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 481,517 shares of the company’s stock worth $1,209,000 after buying an additional 24,624 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

PetMed Express Company Profile

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.