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

PetMed Express, Inc. (NASDAQ:PETS) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 2,090,000 shares, a growth of 16.8% from the August 15th total of 1,790,000 shares. Currently, 10.4% of the shares of the company are sold short. Based on an average daily volume of 356,300 shares, the short-interest ratio is currently 5.9 days.

Institutional Investors Weigh In On PetMed Express

A number of large investors have recently made changes to their positions in PETS. Invenomic Capital Management LP acquired a new position in shares of PetMed Express during the 4th quarter valued at about $1,631,000. Quest Partners LLC purchased a new stake in shares of PetMed Express in the 4th quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of PetMed Express by 2,025.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 700,916 shares of the company’s stock worth $3,357,000 after buying an additional 667,946 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of PetMed Express by 48.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 129,229 shares of the company’s stock valued at $620,000 after buying an additional 42,125 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in PetMed Express by 22.8% in the first quarter. BNP Paribas Financial Markets now owns 66,501 shares of the company’s stock valued at $319,000 after acquiring an additional 12,326 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Lake Street Capital reaffirmed a “hold” rating and set a $3.50 price target (down from $7.00) on shares of PetMed Express in a research report on Wednesday, August 7th. Morgan Stanley dropped their target price on PetMed Express from $6.50 to $3.50 and set an “underweight” rating on the stock in a report on Wednesday, June 12th.

PetMed Express Stock Performance

NASDAQ PETS traded up $0.09 during mid-day trading on Tuesday, reaching $3.66. 31,134 shares of the stock were exchanged, compared to its average volume of 358,978. PetMed Express has a 1 year low of $2.90 and a 1 year high of $11.80. The business’s 50 day moving average is $3.48 and its 200-day moving average is $4.07. The company has a market capitalization of $75.40 million, a P/E ratio of -9.15 and a beta of 0.71.

PetMed Express (NASDAQ:PETS) last posted its earnings results on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.30. The firm had revenue of $67.95 million for the quarter, compared to analysts’ expectations of $77.52 million. PetMed Express had a negative return on equity of 3.44% and a negative net margin of 1.24%. Equities analysts predict that PetMed Express will post 0.08 earnings per share for the current fiscal 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 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.