PetMed Express, Inc. (NASDAQ:PETS) Short Interest Update

PetMed Express, Inc. (NASDAQ:PETS) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 2,090,000 shares, an increase of 16.8% from the August 15th total of 1,790,000 shares. Based on an average daily volume of 356,300 shares, the days-to-cover ratio is currently 5.9 days. Currently, 10.4% of the company’s stock are sold short.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Lake Street Capital restated a “hold” rating and issued a $3.50 target price (down previously from $7.00) on shares of PetMed Express in a research note on Wednesday, August 7th. Morgan Stanley cut their target price on shares of PetMed Express from $6.50 to $3.50 and set an “underweight” rating on the stock in a research note on Wednesday, June 12th.

PetMed Express Price Performance

Shares of NASDAQ:PETS traded down $0.02 during trading on Monday, reaching $3.57. 130,991 shares of the company’s stock traded hands, compared to its average volume of 360,817. PetMed Express has a 12 month low of $2.90 and a 12 month high of $11.80. The company has a 50 day moving average of $3.48 and a 200-day moving average of $4.07. The stock has a market capitalization of $73.54 million, a P/E ratio of -9.15 and a beta of 0.71.

PetMed Express (NASDAQ:PETS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.30. PetMed Express had a negative net margin of 1.24% and a negative return on equity of 3.44%. The business had revenue of $67.95 million during the quarter, compared to the consensus estimate of $77.52 million. Equities research analysts predict that PetMed Express will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PetMed Express

A number of institutional investors have recently modified their holdings of PETS. BNP Paribas Financial Markets grew its position in shares of PetMed Express by 963.1% during the 4th quarter. BNP Paribas Financial Markets now owns 54,175 shares of the company’s stock valued at $410,000 after buying an additional 49,079 shares during the last quarter. Jump Financial LLC grew its position in PetMed Express by 255.2% in the 4th quarter. Jump Financial LLC now owns 60,801 shares of the company’s stock worth $460,000 after purchasing an additional 43,683 shares during the last quarter. Trexquant Investment LP grew its position in PetMed Express by 110.8% in the 4th quarter. Trexquant Investment LP now owns 113,996 shares of the company’s stock worth $862,000 after purchasing an additional 59,910 shares during the last quarter. Quest Partners LLC bought a new position in PetMed Express in the 4th quarter worth about $47,000. Finally, Invenomic Capital Management LP bought a new position in PetMed Express in the 4th quarter worth about $1,631,000. Institutional investors 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 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.