PetMed Express, Inc. (NASDAQ:PETS) Short Interest Down 43.5% in July

PetMed Express, Inc. (NASDAQ:PETS) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 914,046 shares, a drop of 43.5% from the June 30th total of 1,617,488 shares. Based on an average trading volume of 245,985 shares, the short-interest ratio is presently 3.7 days. Currently, 4.3% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PETS. Zacks Research upgraded shares of PetMed Express to a “hold” rating in a research report on Thursday, April 30th. Weiss Ratings downgraded shares of PetMed Express from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, July 20th. Finally, Wall Street Zen upgraded shares of PetMed Express from a “strong sell” rating to a “hold” rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On PetMed Express

Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC boosted its position in shares of PetMed Express by 9.3% during the first quarter. Empowered Funds LLC now owns 75,024 shares of the company’s stock worth $171,000 after acquiring an additional 6,373 shares during the last quarter. Rangeley Capital LLC lifted its stake in PetMed Express by 45.6% in the 1st quarter. Rangeley Capital LLC now owns 109,208 shares of the company’s stock worth $249,000 after purchasing an additional 34,208 shares in the last quarter. Sei Investments Co. lifted its stake in PetMed Express by 42.0% in the 1st quarter. Sei Investments Co. now owns 23,000 shares of the company’s stock worth $52,000 after purchasing an additional 6,800 shares in the last quarter. Formidable Asset Management LLC boosted its holdings in shares of PetMed Express by 13.0% during the 1st quarter. Formidable Asset Management LLC now owns 105,201 shares of the company’s stock valued at $240,000 after purchasing an additional 12,141 shares during the last quarter. Finally, Man Group plc boosted its holdings in shares of PetMed Express by 10.7% during the 4th quarter. Man Group plc now owns 167,152 shares of the company’s stock valued at $535,000 after purchasing an additional 16,113 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

PetMed Express Price Performance

Shares of NASDAQ:PETS traded up $0.01 during trading on Thursday, hitting $2.00. 13,537 shares of the company’s stock were exchanged, compared to its average volume of 363,569. PetMed Express has a 52-week low of $1.57 and a 52-week high of $4.10. The business’s 50-day simple moving average is $1.93 and its 200 day simple moving average is $2.40. The company has a market cap of $42.63 million, a price-to-earnings ratio of -0.73 and a beta of 0.77.

PetMed Express (NASDAQ:PETS) last issued its earnings results on Tuesday, June 2nd. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.01). PetMed Express had a negative net margin of 32.00% and a negative return on equity of 76.86%. The business had revenue of $42.82 million for the quarter, compared to the consensus estimate of $52.00 million. During the same period last year, the business posted ($0.56) EPS. On average, sell-side analysts anticipate that PetMed Express will post 0.07 EPS 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.