PetMed Express (NASDAQ:PETS) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

PetMed Express, Inc. (NASDAQ:PETS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.85 and traded as high as $3.38. PetMed Express shares last traded at $3.38, with a volume of 109,629 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Zacks Research upgraded PetMed Express from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of PetMed Express in a report on Monday, December 29th. Finally, Wall Street Zen cut PetMed Express from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Sell” and a consensus price target of $3.20.

PetMed Express Trading Up 2.7%

The firm has a 50-day moving average of $2.73 and a two-hundred day moving average of $2.85. The firm has a market capitalization of $72.23 million, a P/E ratio of -1.28 and a beta of 0.65.

PetMed Express (NASDAQ:PETS) last issued its earnings results on Friday, December 19th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.45). PetMed Express had a negative return on equity of 40.26% and a negative net margin of 28.22%.The business had revenue of $44.36 million for the quarter. On average, sell-side analysts anticipate that PetMed Express, Inc. will post 0.19 EPS for the current fiscal year.

Institutional Trading of PetMed Express

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

PetMed Express Company Profile

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.