Petco Health and Wellness (NASDAQ:WOOF) Stock Price Down 9% – Here’s What Happened

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) shares dropped 9% on Friday . The stock traded as low as $3.64 and last traded at $3.65. Approximately 1,851,144 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 3,998,682 shares. The stock had previously closed at $4.01.

Analyst Ratings Changes

WOOF has been the subject of a number of recent analyst reports. Wedbush upped their target price on Petco Health and Wellness from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Morgan Stanley upped their price objective on shares of Petco Health and Wellness from $3.00 to $6.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. StockNews.com upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company upped their price target on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $6.00 price objective on shares of Petco Health and Wellness in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.25.

Petco Health and Wellness Stock Down 6.7 %

The firm has a 50 day moving average of $4.28 and a 200-day moving average of $3.94. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22. The stock has a market capitalization of $1.17 billion, a P/E ratio of -9.35 and a beta of 1.90.

Institutional Investors Weigh In On Petco Health and Wellness

Several institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. increased its stake in Petco Health and Wellness by 253.7% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company’s stock valued at $51,000 after acquiring an additional 8,056 shares during the period. Caprock Group LLC bought a new stake in shares of Petco Health and Wellness in the 2nd quarter valued at approximately $44,000. Choreo LLC bought a new stake in shares of Petco Health and Wellness in the 2nd quarter valued at approximately $45,000. Quadrature Capital Ltd acquired a new position in shares of Petco Health and Wellness in the 3rd quarter worth approximately $58,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in Petco Health and Wellness in the 2nd quarter valued at $50,000.

About Petco Health and Wellness

Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. The company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, as well as veterinary services through Vetco mobile clinics.