Chardan Capital Reaffirms “Buy” Rating for Wag! Group (NASDAQ:PET)

Chardan Capital reissued their buy rating on shares of Wag! Group (NASDAQ:PET) in a research report released on Friday morning, Benzinga reports. The firm currently has a $8.00 price objective on the stock.

Wag! Group Price Performance

Shares of NASDAQ:PET opened at $2.26 on Friday. Wag! Group has a 12 month low of $1.59 and a 12 month high of $2.65. The firm has a market capitalization of $91.80 million, a P/E ratio of -6.28 and a beta of 2.01. The company has a debt-to-equity ratio of 15.59, a current ratio of 1.33 and a quick ratio of 1.33. The company’s fifty day moving average price is $2.12 and its 200 day moving average price is $1.93.

Wag! Group (NASDAQ:PET) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. The company had revenue of $23.22 million during the quarter, compared to analysts’ expectations of $22.60 million. Wag! Group had a negative return on equity of 553.34% and a negative net margin of 15.92%. As a group, sell-side analysts predict that Wag! Group will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Adam Storm sold 48,221 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $2.20, for a total value of $106,086.20. Following the transaction, the insider now owns 1,120,916 shares of the company’s stock, valued at $2,466,015.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Adam Storm sold 48,221 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $2.20, for a total value of $106,086.20. Following the completion of the sale, the insider now owns 1,120,916 shares in the company, valued at approximately $2,466,015.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Maziar Arjomand sold 15,240 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $2.13, for a total transaction of $32,461.20. Following the transaction, the chief technology officer now owns 977,072 shares in the company, valued at $2,081,163.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,322 shares of company stock valued at $619,959. 23.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wag! Group

A number of large investors have recently modified their holdings of PET. Cerity Partners LLC acquired a new position in Wag! Group during the fourth quarter worth $40,000. ATW Spac Management LLC acquired a new position in shares of Wag! Group during the 3rd quarter worth $117,000. SVB Wealth LLC increased its holdings in shares of Wag! Group by 100.0% in the 4th quarter. SVB Wealth LLC now owns 140,000 shares of the company’s stock valued at $245,000 after purchasing an additional 70,000 shares in the last quarter. Finally, StepStone Group LP acquired a new stake in shares of Wag! Group in the third quarter valued at about $225,000. 86.16% of the stock is owned by hedge funds and other institutional investors.

Wag! Group Company Profile

Wag! Group Co develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents. Its platform allows pet parents, who require specific pet care services, such as dog walking, pet sitting and boarding, advice from licensed pet experts, home visits, training, and pet insurance comparison tools.