PetMed Express, Inc. (NASDAQ:PETS) Sees Significant Decrease in Short Interest

PetMed Express, Inc. (NASDAQ:PETS) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 914,046 shares, a drop of 43.5% from the June 30th total of 1,617,488 shares. Based on an average daily volume of 245,985 shares, the days-to-cover ratio is currently 3.7 days. Currently, 4.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its position in shares of PetMed Express by 9.3% in the first quarter. Empowered Funds LLC now owns 75,024 shares of the company’s stock valued at $171,000 after purchasing an additional 6,373 shares during the period. Sei Investments Co. raised its holdings in PetMed Express by 42.0% in the 1st quarter. Sei Investments Co. now owns 23,000 shares of the company’s stock valued at $52,000 after acquiring an additional 6,800 shares during the period. State Street Corp lifted its position in PetMed Express by 7.8% during the fourth quarter. State Street Corp now owns 105,173 shares of the company’s stock worth $337,000 after acquiring an additional 7,600 shares during the last quarter. Man Group plc boosted its holdings 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 worth $379,000 after acquiring an additional 9,989 shares during the period. Finally, Formidable Asset Management LLC grew its position in shares of PetMed Express by 13.0% in the first quarter. Formidable Asset Management LLC now owns 105,201 shares of the company’s stock valued at $240,000 after purchasing an additional 12,141 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

PetMed Express Stock Down 0.5%

PETS stock traded down $0.01 during midday trading on Friday, reaching $1.97. The stock had a trading volume of 21,486 shares, compared to its average volume of 361,352. PetMed Express has a twelve month low of $1.57 and a twelve month high of $4.10. The business has a fifty day simple moving average of $1.93 and a two-hundred day simple moving average of $2.40. The firm has a market cap of $42.10 million, a price-to-earnings ratio of -0.72 and a beta of 0.77.

PetMed Express (NASDAQ:PETS) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The business had revenue of $42.82 million during the quarter, compared to analyst estimates of $52.00 million. PetMed Express had a negative net margin of 32.00% and a negative return on equity of 76.86%. During the same quarter in the prior year, the company earned ($0.56) earnings per share. On average, equities analysts predict that PetMed Express will post 0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PETS shares. Weiss Ratings cut PetMed Express from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, July 20th. Zacks Research raised PetMed Express to a “hold” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen raised shares of PetMed Express from a “strong sell” rating to a “hold” rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, PetMed Express has a consensus rating of “Reduce”.

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.