PetMed Express, Inc. (NASDAQ:PETS) Sees Large Drop in Short Interest

PetMed Express, Inc. (NASDAQ:PETS) was the target of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 774,341 shares, a decline of 27.2% from the February 26th total of 1,064,222 shares. Currently, 3.7% of the shares of the company are short sold. Based on an average daily trading volume, of 104,949 shares, the short-interest ratio is presently 7.4 days.

Institutional Investors Weigh In On PetMed Express

A number of large investors have recently modified their holdings of the business. Federated Hermes Inc. raised its stake in PetMed Express by 30.1% during the fourth quarter. Federated Hermes Inc. now owns 627,743 shares of the company’s stock worth $2,009,000 after acquiring an additional 145,357 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of PetMed Express by 5.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 481,517 shares of the company’s stock valued at $1,209,000 after purchasing an additional 24,624 shares during the last quarter. Steel Partners Holdings L.P. acquired a new position in PetMed Express during the 4th quarter worth approximately $620,000. Man Group plc increased its position in PetMed Express by 10.7% during the 4th quarter. Man Group plc now owns 167,152 shares of the company’s stock worth $535,000 after purchasing an additional 16,113 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in PetMed Express by 17.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 126,351 shares of the company’s stock valued at $404,000 after buying an additional 18,535 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PetMed Express in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Sell” and a consensus price target of $3.20.

PetMed Express Stock Performance

PETS opened at $2.21 on Tuesday. PetMed Express has a 52-week low of $1.57 and a 52-week high of $4.32. The firm has a market cap of $47.29 million, a P/E ratio of -0.71 and a beta of 0.73. The business’s fifty day moving average is $2.82 and its 200-day moving average is $2.72.

PetMed Express (NASDAQ:PETS) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.44). PetMed Express had a negative return on equity of 70.81% and a negative net margin of 35.51%.The firm had revenue of $40.66 million for the quarter, compared to the consensus estimate of $54.04 million. On average, research analysts predict that PetMed Express will post 0.19 earnings per share for the current fiscal 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.