Freshpet (NASDAQ:FRPT) Sees Unusually-High Trading Volume - Here's Why

Freshpet, Inc. (NASDAQ:FRPT - Get Free Report) saw strong trading volume on Monday . 300,025 shares traded hands during mid-day trading, a decline of 48% from the previous session's volume of 572,506 shares.The stock last traded at $143.50 and had previously closed at $133.69.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Robert W. Baird upped their price target on Freshpet from $140.00 to $157.00 and gave the company an "outperform" rating in a research report on Tuesday, September 3rd. Benchmark restated a "buy" rating and issued a $150.00 price target on shares of Freshpet in a research report on Friday. Truist Financial upped their price target on Freshpet from $135.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on Freshpet from $113.00 to $126.00 and gave the company a "neutral" rating in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company upped their price target on Freshpet from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $145.87.

Freshpet Stock Up 12.6 %

The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 298.37 and a beta of 1.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.50 and a quick ratio of 3.69. The business has a 50 day simple moving average of $137.58 and a 200 day simple moving average of $128.97.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.06. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The company had revenue of $235.30 million for the quarter, compared to analysts' expectations of $230.99 million. During the same period last year, the firm earned ($0.35) earnings per share. Freshpet's quarterly revenue was up 28.4% on a year-over-year basis. As a group, equities analysts predict that Freshpet, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshpet

In other Freshpet news, EVP Stephen Macchiaverna sold 2,178 shares of the firm's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the sale, the executive vice president now directly owns 86,039 shares in the company, valued at $12,046,320.39. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Freshpet

Hedge funds have recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in shares of Freshpet during the third quarter worth about $29,000. ORG Partners LLC purchased a new position in shares of Freshpet during the second quarter worth about $32,000. Whittier Trust Co. purchased a new position in shares of Freshpet during the first quarter worth about $41,000. GAMMA Investing LLC grew its holdings in shares of Freshpet by 41.1% during the second quarter. GAMMA Investing LLC now owns 371 shares of the company's stock worth $48,000 after purchasing an additional 108 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Freshpet by 3,670.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company's stock worth $49,000 after purchasing an additional 367 shares during the last quarter.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.