PetMed Express (NASDAQ:PETS) Shares Cross Above 200 Day Moving Average - Here's Why

PetMed Express, Inc. (NASDAQ:PETS - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.14 and traded as high as $4.93. PetMed Express shares last traded at $4.64, with a volume of 345,642 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of PetMed Express from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th.

PetMed Express Stock Up 2.8 %

The stock has a 50 day simple moving average of $4.98 and a 200 day simple moving average of $4.14. The company has a market cap of $98.56 million, a price-to-earnings ratio of -79.50 and a beta of 0.69.

PetMed Express (NASDAQ:PETS - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.17. PetMed Express had a negative return on equity of 1.00% and a negative net margin of 0.37%. The business had revenue of $59.57 million for the quarter, compared to the consensus estimate of $66.02 million. As a group, equities research analysts expect that PetMed Express, Inc. will post 0.24 EPS for the current fiscal year.

Insider Activity

In other PetMed Express news, Director Leslie C.G. Campbell bought 15,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average cost of $5.38 per share, with a total value of $80,700.00. Following the completion of the transaction, the director now owns 70,000 shares in the company, valued at $376,600. The trade was a 27.27 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On PetMed Express

Hedge funds have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new position in shares of PetMed Express in the 2nd quarter valued at approximately $34,000. Marshall Wace LLP acquired a new stake in PetMed Express in the second quarter valued at $46,000. Independent Advisor Alliance bought a new position in PetMed Express during the 3rd quarter valued at $106,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in PetMed Express during the 2nd quarter worth $135,000. Finally, Sei Investments Co. increased its position in shares of PetMed Express by 8.3% in the 2nd quarter. Sei Investments Co. now owns 44,220 shares of the company's stock worth $179,000 after purchasing an additional 3,400 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

About PetMed Express

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.