Craig Hallum Downgrades Wag! Group (NASDAQ:PET) to Hold

Craig Hallum downgraded shares of Wag! Group (NASDAQ:PET) from a buy rating to a hold rating in a research note released on Thursday morning, MarketBeat.com reports.

Separately, Oppenheimer dropped their price target on Wag! Group from $6.00 to $3.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Wag! Group has a consensus rating of “Moderate Buy” and a consensus price target of $4.40.

Wag! Group Stock Down 3.8 %

Shares of PET stock opened at $0.17 on Thursday. The business has a 50-day moving average price of $0.76 and a two-hundred day moving average price of $1.19. Wag! Group has a 12-month low of $0.14 and a 12-month high of $2.47. The firm has a market cap of $8.71 million, a P/E ratio of -0.45 and a beta of 1.79.

Insider Activity

In other news, CTO Maziar Arjomand sold 51,714 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $0.72, for a total value of $37,234.08. Following the completion of the sale, the chief technology officer now owns 1,194,098 shares of the company’s stock, valued at approximately $859,750.56. The trade was a 4.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder John P. Szabo, Jr. purchased 50,000 shares of Wag! Group stock in a transaction that occurred on Monday, September 23rd. The shares were acquired at an average price of $0.93 per share, for a total transaction of $46,500.00. Following the acquisition, the insider now owns 3,250,000 shares in the company, valued at $3,022,500. This trade represents a 1.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 199,383 shares of company stock valued at $143,556. Insiders own 23.20% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Wag! Group stock. Cowen AND Company LLC purchased a new stake in shares of Wag! Group Co. (NASDAQ:PET) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 45,000 shares of the company’s stock, valued at approximately $72,000. Cowen AND Company LLC owned 0.11% of Wag! Group at the end of the most recent reporting period. 86.16% of the stock is owned by institutional investors and hedge funds.

Wag! Group Company Profile

Wag! Group Co develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents. Its platform allows pet parents, who require specific pet care services, such as dog walking, pet sitting and boarding, advice from licensed pet experts, home visits, training, and pet insurance comparison tools.