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

PetMed Express, Inc. (NASDAQ:PETS - Get Free Report) saw a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,350,000 shares, a decrease of 20.6% from the October 31st total of 1,700,000 shares. Approximately 7.6% of the company's stock are sold short. Based on an average daily volume of 247,300 shares, the short-interest ratio is currently 5.5 days.

Insider Activity at PetMed Express

In other PetMed Express news, major shareholder Nina Capital Holdings Inc. purchased 12,500 shares of the company's stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $3.34 per share, for a total transaction of $41,750.00. Following the completion of the acquisition, the insider now owns 2,078,000 shares of the company's stock, valued at $6,940,520. The trade was a 0.61 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.

Institutional Trading of PetMed Express

A number of hedge funds and other institutional investors have recently made changes to their positions in PETS. Sei Investments Co. lifted its stake in 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 in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of PetMed Express in the second quarter worth $34,000. Vanguard Group Inc. boosted its stake in PetMed Express by 0.8% during the first quarter. Vanguard Group Inc. now owns 1,186,485 shares of the company's stock valued at $5,683,000 after buying an additional 9,226 shares during the period. Marshall Wace LLP bought a new stake in PetMed Express during the second quarter valued at $46,000. Finally, SG Americas Securities LLC purchased a new position in PetMed Express during the second quarter worth about $46,000. 73.33% of the stock is currently owned by institutional investors.

PetMed Express Stock Down 1.5 %

PETS traded down $0.07 during trading hours on Friday, hitting $4.63. The stock had a trading volume of 78,585 shares, compared to its average volume of 336,787. The stock has a market cap of $95.67 million, a PE ratio of -77.17 and a beta of 0.68. PetMed Express has a 1 year low of $2.90 and a 1 year high of $7.90. The company's fifty day simple moving average is $4.26 and its 200 day simple moving average is $3.96.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PETS shares. StockNews.com upgraded shares of PetMed Express from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Lake Street Capital restated a "hold" rating and set a $3.50 price target (down previously from $7.00) on shares of PetMed Express in a research note on Wednesday, August 7th.

PetMed Express Company Profile

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.