Wag! Group (NASDAQ:PET) Stock Price Down 5.1% – What’s Next?

Wag! Group Co. (NASDAQ:PET) shares dropped 5.1% during mid-day trading on Tuesday . The stock traded as low as $0.33 and last traded at $0.33. Approximately 295,973 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 800,333 shares. The stock had previously closed at $0.35.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Lake Street Capital cut Wag! Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Craig Hallum lowered shares of Wag! Group from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.40.

Wag! Group Price Performance

The firm has a 50 day moving average price of $0.27 and a 200-day moving average price of $0.55. The firm has a market cap of $16.54 million, a price-to-earnings ratio of -0.85 and a beta of 1.07.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Wag! Group stock. Whetstone Capital Advisors LLC boosted its holdings in Wag! Group Co. (NASDAQ:PET) by 156.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,222,413 shares of the company’s stock after buying an additional 1,354,558 shares during the period. Wag! Group makes up about 0.9% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 25th biggest position. Whetstone Capital Advisors LLC owned approximately 4.55% of Wag! Group worth $1,911,000 at the end of the most recent quarter. 86.16% of the stock is owned by hedge funds and other institutional investors.

About Wag! Group

Wag! Group Co develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents. Its platform allows pet parents, who require specific pet care services, such as dog walking, pet sitting and boarding, advice from licensed pet experts, home visits, training, and pet insurance comparison tools.