Short Interest in PetMed Express, Inc. (NASDAQ:PETS) Drops By 60.9%

PetMed Express, Inc. (NASDAQ:PETS) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 1,056,449 shares, a drop of 60.9% from the December 15th total of 2,698,921 shares. Approximately 5.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,489,468 shares, the short-interest ratio is currently 0.7 days. Based on an average daily trading volume, of 1,489,468 shares, the short-interest ratio is currently 0.7 days. Approximately 5.0% of the shares of the stock are short sold.

PetMed Express Trading Down 1.5%

PETS traded down $0.05 during trading hours on Friday, hitting $3.35. 185,864 shares of the company’s stock were exchanged, compared to its average volume of 272,867. PetMed Express has a 12-month low of $1.57 and a 12-month high of $5.58. The firm has a market cap of $71.59 million, a P/E ratio of -1.26 and a beta of 0.65. The firm has a 50 day moving average of $2.67 and a 200 day moving average of $2.85.

PetMed Express (NASDAQ:PETS) last announced its earnings results on Friday, December 19th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.45). The business had revenue of $44.36 million for the quarter. PetMed Express had a negative return on equity of 40.26% and a negative net margin of 28.22%. As a group, research analysts expect that PetMed Express will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On PetMed Express

Several hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its stake in shares of PetMed Express by 59.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 33,209 shares of the company’s stock valued at $139,000 after buying an additional 12,360 shares during the period. R Squared Ltd bought a new stake in PetMed Express during the 2nd quarter worth about $34,000. Truffle Hound Capital LLC acquired a new stake in PetMed Express in the second quarter worth $399,000. Occudo Quantitative Strategies LP bought a new position in PetMed Express during the 2nd quarter worth about $51,000. Finally, Bridgeway Capital Management LLC grew its stake in shares of PetMed Express by 96.2% in the second quarter. Bridgeway Capital Management LLC now owns 40,800 shares of the company’s stock valued at $135,000 after buying an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Zacks Research raised shares of PetMed Express from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of PetMed Express in a research note on Monday, December 29th. Finally, Wall Street Zen cut PetMed Express from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Sell” and an average target price of $3.20.

PetMed Express Company Profile

PetMed Express, Inc operates as an online and catalog-based pet pharmacy and retail supplier under the 1-800-PetMeds brand name. The company distributes prescription and non‐prescription medications, nutritional supplements, flea and tick control products, and a range of pet health supplies directly to consumers. Through its licensed veterinary pharmacy in Delray Beach, Florida, PetMed Express fills orders for dogs, cats and other companion animals, offering both branded and generic products alongside its own private‐label formulations.

Founded in 1996 by Marc Puleo, PetMed Express built its business on the premise of convenience and cost savings for pet owners seeking reliable access to veterinary medications.