PetMed Express, Inc. (NASDAQ:PETS) Short Interest Down 20.6% in November

PetMed Express, Inc. (NASDAQ:PETS) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 1,350,000 shares, a decline of 20.6% from the October 31st total of 1,700,000 shares. Based on an average trading volume of 247,300 shares, the days-to-cover ratio is currently 5.5 days. Approximately 7.6% of the company’s stock are short sold.

PetMed Express Trading Down 1.5 %

Shares of NASDAQ PETS opened at $4.63 on Monday. The stock has a market cap of $95.66 million, a price-to-earnings ratio of -77.17 and a beta of 0.68. PetMed Express has a 12 month low of $2.90 and a 12 month high of $7.90. The company has a 50 day simple moving average of $4.26 and a two-hundred day simple moving average of $3.95.

PetMed Express (NASDAQ:PETS) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $66.02 million. Analysts forecast that PetMed Express will post 0.24 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of PetMed Express from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Lake Street Capital reiterated 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.

Insider Buying and Selling

In related news, major shareholder Nina Capital Holdings Inc. acquired 12,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average cost of $3.34 per share, with a total value of $41,750.00. Following the transaction, the insider now directly owns 2,078,000 shares of the company’s stock, valued at $6,940,520. This trade represents a 0.61 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of PetMed Express

Several large investors have recently made changes to their positions in PETS. Point72 DIFC Ltd acquired a new position in shares of PetMed Express during the 2nd quarter worth approximately $34,000. Marshall Wace LLP purchased a new position in shares of PetMed Express during the 2nd quarter worth $46,000. SG Americas Securities LLC acquired a new position in shares of PetMed Express during the 2nd quarter valued at about $46,000. Legacy Advisors LLC acquired a new position in shares of PetMed Express during the 2nd quarter valued at about $96,000. Finally, Independent Advisor Alliance purchased a new stake in shares of PetMed Express in the third quarter valued at about $106,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

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.