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

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

Insider Activity

In other PetMed Express news, major shareholder Nina Capital Holdings Inc. bought 12,500 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was acquired at an average cost of $3.34 per share, with a total value of $41,750.00. Following the purchase, the insider now owns 2,078,000 shares in the company, valued at approximately $6,940,520. This represents a 0.61 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of PetMed Express

A number of institutional investors and hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new stake in PetMed Express in the second quarter worth $34,000. Price T Rowe Associates Inc. MD boosted its holdings in PetMed Express by 48.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 129,229 shares of the company’s stock worth $620,000 after buying an additional 42,125 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of PetMed Express in the 2nd quarter worth $273,000. SG Americas Securities LLC acquired a new stake in PetMed Express during the 2nd quarter worth about $46,000. Finally, Vanguard Group Inc. raised its holdings in shares of PetMed Express by 0.8% during the first quarter. Vanguard Group Inc. now owns 1,186,485 shares of the company’s stock valued at $5,683,000 after acquiring an additional 9,226 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PETS. StockNews.com upgraded PetMed Express from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Lake Street Capital reiterated a “hold” rating and issued a $3.50 target price (down from $7.00) on shares of PetMed Express in a research note on Wednesday, August 7th.

PetMed Express Stock Performance

NASDAQ:PETS traded down $0.07 on Friday, reaching $4.63. The stock had a trading volume of 78,585 shares, compared to its average volume of 364,242. PetMed Express has a 12-month low of $2.90 and a 12-month high of $7.90. The company has a 50-day moving average of $4.26 and a 200 day moving average of $3.96.

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

About PetMed Express

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.