Short Interest in PetMed Express, Inc. (NASDAQ:PETS) Rises By 68.2%

PetMed Express, Inc. (NASDAQ:PETS) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totaling 2,698,921 shares, an increase of 68.2% from the November 30th total of 1,604,421 shares. Based on an average trading volume of 12,363,353 shares, the days-to-cover ratio is presently 0.2 days. Approximately 12.9% of the shares of the stock are short sold. Approximately 12.9% of the shares of the stock are short sold. Based on an average trading volume of 12,363,353 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of PetMed Express

Several large investors have recently modified their holdings of the stock. Man Group plc lifted its position in shares of PetMed Express by 7.1% during the third quarter. Man Group plc now owns 151,039 shares of the company’s stock valued at $379,000 after purchasing an additional 9,989 shares in the last quarter. R Squared Ltd purchased a new position in shares of PetMed Express during the 2nd quarter valued at $34,000. Goldman Sachs Group Inc. grew its position in PetMed Express by 59.3% in the first quarter. Goldman Sachs Group Inc. now owns 33,209 shares of the company’s stock worth $139,000 after acquiring an additional 12,360 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in PetMed Express in the 2nd quarter worth approximately $51,000. Finally, Oxford Asset Management LLP bought a new stake in shares of PetMed Express in the 2nd quarter worth approximately $55,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

PETS has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of PetMed Express in a research report on Wednesday, October 8th. Zacks Research upgraded shares of PetMed Express from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Wall Street Zen lowered PetMed Express from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell” and an average target price of $3.20.

PetMed Express Trading Down 2.3%

Shares of NASDAQ:PETS traded down $0.08 during trading on Monday, hitting $3.39. 217,043 shares of the company were exchanged, compared to its average volume of 781,616. The firm has a fifty day moving average price of $2.48 and a two-hundred day moving average price of $2.85. The stock has a market cap of $72.44 million, a price-to-earnings ratio of -1.28 and a beta of 0.75. PetMed Express has a fifty-two week low of $1.57 and a fifty-two week high of $5.58.

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

About PetMed Express

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.