PetMed Express (NASDAQ:PETS) Raised to Buy at StockNews.com

StockNews.com upgraded shares of PetMed Express (NASDAQ:PETS) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

Separately, Lake Street Capital restated a “hold” rating and issued a $3.50 target price (down from $7.00) on shares of PetMed Express in a research note on Wednesday, August 7th.

PetMed Express Trading Down 3.9 %

PETS stock traded down $0.20 during trading on Tuesday, hitting $4.87. The company had a trading volume of 67,376 shares, compared to its average volume of 343,279. PetMed Express has a 52-week low of $2.90 and a 52-week high of $7.93. The company has a 50 day simple moving average of $3.98 and a 200-day simple moving average of $3.92.

PetMed Express (NASDAQ:PETS) last posted its earnings results on Wednesday, November 6th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.17. The business had revenue of $59.57 million for the quarter, compared to the consensus estimate of $66.02 million. PetMed Express had a negative net margin of 0.37% and a negative return on equity of 1.00%. On average, research analysts anticipate that PetMed Express will post 0.24 EPS for the current year.

Insider Transactions at PetMed Express

In related news, major shareholder Nina Capital Holdings Inc. purchased 12,500 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $3.34 per share, with a total value of $41,750.00. Following the completion of the acquisition, the insider now owns 2,078,000 shares in the company, valued at approximately $6,940,520. This represents a 0.61 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On PetMed Express

Hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in PetMed Express during the 2nd quarter worth about $34,000. SG Americas Securities LLC purchased a new stake in PetMed Express in the second quarter valued at approximately $46,000. Marshall Wace LLP acquired a new position in PetMed Express in the 2nd quarter worth approximately $46,000. Pinnacle Wealth Planning Services Inc. purchased a new position in PetMed Express during the 1st quarter worth approximately $61,000. Finally, Legacy Advisors LLC acquired a new stake in PetMed Express during the 2nd quarter valued at approximately $96,000. 73.33% of the stock is owned by institutional investors and hedge funds.

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.