PetMed Express (NASDAQ:PETS) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

PetMed Express, Inc. (NASDAQ:PETS) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.85 and traded as high as $3.30. PetMed Express shares last traded at $3.23, with a volume of 92,397 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of PetMed Express in a research report on Monday, December 29th. Wall Street Zen cut shares of PetMed Express from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Sell” and a consensus target price of $3.20.

PetMed Express Stock Down 1.2%

The company has a 50 day moving average of $2.93 and a 200-day moving average of $2.85. The stock has a market capitalization of $68.17 million, a P/E ratio of -1.20 and a beta of 0.65.

Hedge Funds Weigh In On PetMed Express

Several hedge funds and other institutional investors have recently modified their holdings of the company. Man Group plc boosted its stake in PetMed Express by 7.1% during the 3rd quarter. Man Group plc now owns 151,039 shares of the company’s stock valued at $379,000 after purchasing an additional 9,989 shares during the period. R Squared Ltd acquired a new stake in shares of PetMed Express during the second quarter worth $34,000. Goldman Sachs Group Inc. raised its holdings in shares of PetMed Express by 59.3% during the first quarter. Goldman Sachs Group Inc. now owns 33,209 shares of the company’s stock valued at $139,000 after acquiring an additional 12,360 shares during the period. Occudo Quantitative Strategies LP acquired a new position in PetMed Express during the second quarter valued at $51,000. Finally, Oxford Asset Management LLP acquired a new position in PetMed Express in the 2nd quarter valued at approximately $55,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

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.