PetMed Express, Inc. (NASDAQ:PETS) Sees Significant Increase in Short Interest

PetMed Express, Inc. (NASDAQ:PETS) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 2,698,921 shares, a growth of 68.2% from the November 30th total of 1,604,421 shares. Currently, 12.9% of the company’s shares are sold short. Based on an average daily trading volume, of 12,363,353 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 12,363,353 shares, the days-to-cover ratio is presently 0.2 days. Currently, 12.9% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

PETS has been the subject of several analyst reports. Wall Street Zen lowered shares of PetMed Express from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PetMed Express in a research note on Wednesday, October 8th. Finally, Zacks Research raised PetMed Express from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Sell” and a consensus price target of $3.20.

Institutional Trading of PetMed Express

A number of hedge funds have recently bought and sold shares of PETS. CIBC Private Wealth Group LLC bought a new position in shares of PetMed Express in the 3rd quarter worth $75,000. CIBC Bancorp USA Inc. purchased a new position in PetMed Express in the third quarter valued at about $153,000. Man Group plc raised its holdings in PetMed Express by 7.1% in the third quarter. Man Group plc now owns 151,039 shares of the company’s stock worth $379,000 after purchasing an additional 9,989 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of PetMed Express by 164.3% during the third quarter. Bridgeway Capital Management LLC now owns 107,816 shares of the company’s stock valued at $271,000 after buying an additional 67,016 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of PetMed Express by 5.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 481,517 shares of the company’s stock valued at $1,209,000 after buying an additional 24,624 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

PetMed Express Stock Down 1.9%

Shares of PETS stock traded down $0.06 on Tuesday, hitting $3.33. The stock had a trading volume of 63,435 shares, compared to its average volume of 778,690. PetMed Express has a one year low of $1.57 and a one year high of $5.58. The business has a 50 day moving average price of $2.48 and a 200 day moving average price of $2.85. The company has a market cap of $71.08 million, a PE ratio of -1.26 and a beta of 0.76.

PetMed Express (NASDAQ:PETS) last posted its earnings results on Friday, December 19th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.45). PetMed Express had a negative net margin of 28.22% and a negative return on equity of 40.26%. The business had revenue of $44.36 million for the quarter. Equities research analysts expect that PetMed Express will post 0.19 EPS for the current year.

About PetMed Express

PetMed Express, Inc operates as an online and catalog-based pet pharmacy and retail supplier under the 1-800-PetMeds brand name. The company distributes prescription and non‐prescription medications, nutritional supplements, flea and tick control products, and a range of pet health supplies directly to consumers. Through its licensed veterinary pharmacy in Delray Beach, Florida, PetMed Express fills orders for dogs, cats and other companion animals, offering both branded and generic products alongside its own private‐label formulations.

Founded in 1996 by Marc Puleo, PetMed Express built its business on the premise of convenience and cost savings for pet owners seeking reliable access to veterinary medications.