PetMed Express (NASDAQ:PETS) Share Price Crosses Above 200-Day Moving Average – Here’s Why

PetMed Express, Inc. (NASDAQ:PETS)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.14 and traded as high as $4.93. PetMed Express shares last traded at $4.64, with a volume of 345,642 shares.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of PetMed Express from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th.

PetMed Express Stock Up 2.8 %

The stock has a market capitalization of $98.56 million, a price-to-earnings ratio of -79.50 and a beta of 0.69. The firm has a fifty day moving average of $4.98 and a 200-day moving average of $4.14.

PetMed Express (NASDAQ:PETS) last issued its quarterly earnings data 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 net margin of 0.37% and a negative return on equity of 1.00%. The firm had revenue of $59.57 million for the quarter, compared to analysts’ expectations of $66.02 million. As a group, research analysts forecast that PetMed Express, Inc. will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling at PetMed Express

In other PetMed Express news, Director Leslie C.G. Campbell acquired 15,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average price of $5.38 per share, with a total value of $80,700.00. Following the completion of the transaction, the director now directly owns 70,000 shares in the company, valued at approximately $376,600. This trade represents a 27.27 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is owned by insiders.

Institutional Trading of PetMed Express

Hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new position in shares of PetMed Express during the 2nd quarter worth about $34,000. Marshall Wace LLP acquired a new stake in shares of PetMed Express during the 2nd quarter worth $46,000. Independent Advisor Alliance acquired a new stake in shares of PetMed Express during the 3rd quarter worth $106,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PetMed Express in the 2nd quarter worth $135,000. Finally, Sei Investments Co. boosted its holdings in PetMed Express by 8.3% in the second quarter. Sei Investments Co. now owns 44,220 shares of the company’s stock valued at $179,000 after acquiring an additional 3,400 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

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.