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

PetMed Express, Inc. (NASDAQ:PETS) was the recipient of a significant drop in short interest during 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. Based on an average daily volume of 1,489,468 shares, the days-to-cover ratio is presently 0.7 days. Approximately 5.0% of the shares of the company are short sold. Approximately 5.0% of the shares of the company are short sold. Based on an average daily volume of 1,489,468 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On PetMed Express

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in shares of PetMed Express by 5.4% in the third quarter. Dimensional Fund Advisors LP now owns 481,517 shares of the company’s stock valued at $1,209,000 after buying an additional 24,624 shares in the last quarter. Man Group plc increased its holdings in PetMed Express by 7.1% in the 3rd quarter. Man Group plc now owns 151,039 shares of the company’s stock worth $379,000 after acquiring an additional 9,989 shares in the last quarter. Truffle Hound Capital LLC acquired a new position in PetMed Express during the second quarter worth $399,000. Bridgeway Capital Management LLC lifted its holdings in PetMed Express by 164.3% during the third quarter. Bridgeway Capital Management LLC now owns 107,816 shares of the company’s stock valued at $271,000 after purchasing an additional 67,016 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of PetMed Express in the third quarter valued at about $153,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

PetMed Express Stock Performance

Shares of PETS traded down $0.09 during trading hours on Thursday, hitting $3.40. The stock had a trading volume of 223,649 shares, compared to its average volume of 283,755. The firm has a 50-day moving average price of $2.66 and a 200 day moving average price of $2.85. PetMed Express has a fifty-two week low of $1.57 and a fifty-two week high of $5.58. The firm has a market capitalization of $72.66 million, a price-to-earnings ratio of -1.28 and a beta of 0.65.

PetMed Express (NASDAQ:PETS) last released its quarterly 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). PetMed Express had a negative net margin of 28.22% and a negative return on equity of 40.26%. The firm had revenue of $44.36 million for the quarter. As a group, analysts predict that PetMed Express will post 0.19 EPS for the current fiscal year.

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.