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

PetMed Express, Inc. (NASDAQ:PETS) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 1,617,488 shares, a growth of 164.2% from the June 15th total of 612,313 shares. Based on an average daily trading volume, of 3,205,121 shares, the days-to-cover ratio is presently 0.5 days. Approximately 7.7% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PETS. Weiss Ratings upgraded shares of PetMed Express from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. Zacks Research raised shares of PetMed Express to a “hold” rating in a report on Thursday, April 30th. Finally, Wall Street Zen raised shares of PetMed Express from a “strong sell” rating to a “hold” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PETS. Goldman Sachs Group Inc. grew its stake in shares of PetMed Express by 59.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 33,209 shares of the company’s stock worth $139,000 after purchasing an additional 12,360 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of PetMed Express in the 2nd quarter valued at $51,000. Bridgeway Capital Management LLC lifted its stake in shares of PetMed Express by 96.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 40,800 shares of the company’s stock valued at $135,000 after purchasing an additional 20,000 shares during the period. Oxford Asset Management LLP purchased a new stake in PetMed Express during the second quarter worth $55,000. Finally, Dimensional Fund Advisors LP boosted its holdings in PetMed Express by 5.4% during the third 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 in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

PetMed Express Stock Performance

Shares of PETS stock opened at $1.91 on Tuesday. PetMed Express has a fifty-two week low of $1.57 and a fifty-two week high of $4.10. The firm has a market capitalization of $40.82 million, a price-to-earnings ratio of -0.69 and a beta of 0.77. The stock’s 50-day simple moving average is $2.00 and its 200-day simple moving average is $2.52.

PetMed Express (NASDAQ:PETS) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). PetMed Express had a negative return on equity of 76.86% and a negative net margin of 32.00%.The company had revenue of $42.82 million during the quarter, compared to analysts’ expectations of $52.00 million. During the same period in the prior year, the business posted ($0.56) EPS. As a group, equities analysts forecast that PetMed Express will post 0.07 earnings per share for the current year.

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.