PetMed Express, Inc. (NASDAQ:PETS) Short Interest Down 20.6% in November

PetMed Express, Inc. (NASDAQ:PETS) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,350,000 shares, a decrease of 20.6% from the October 31st total of 1,700,000 shares. Approximately 7.6% of the company’s stock are sold short. Based on an average trading volume of 247,300 shares, the short-interest ratio is currently 5.5 days.

Insider Transactions at PetMed Express

In other news, major shareholder Nina Capital Holdings Inc. purchased 12,500 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $3.34 per share, for a total transaction of $41,750.00. Following the completion of the acquisition, the insider now directly owns 2,078,000 shares in the company, valued at $6,940,520. This represents a 0.61 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Independent Advisor Alliance bought a new stake in shares of PetMed Express in the 3rd quarter valued at approximately $106,000. Bleakley Financial Group LLC bought a new stake in PetMed Express in the third quarter worth $279,000. Point72 DIFC Ltd purchased a new stake in shares of PetMed Express in the second quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PetMed Express in the 2nd quarter worth about $135,000. Finally, Squarepoint Ops LLC purchased a new position in shares of PetMed Express during the 2nd quarter worth about $273,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

PETS has been the topic of several research reports. StockNews.com upgraded shares of PetMed Express from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Lake Street Capital restated a “hold” rating and issued a $3.50 price target (down from $7.00) on shares of PetMed Express in a research note on Wednesday, August 7th.

PetMed Express Stock Down 1.5 %

NASDAQ PETS opened at $4.63 on Monday. PetMed Express has a 52 week low of $2.90 and a 52 week high of $7.90. The company has a market capitalization of $95.66 million, a P/E ratio of -77.17 and a beta of 0.68. The stock’s 50-day moving average price is $4.26 and its 200-day moving average price is $3.95.

PetMed Express (NASDAQ:PETS) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.17. PetMed Express had a negative return on equity of 1.00% and a negative net margin of 0.37%. The company had revenue of $59.57 million during the quarter, compared to analyst estimates of $66.02 million. Research analysts anticipate that PetMed Express will post 0.24 EPS for the current year.

PetMed Express Company Profile

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.