PetMed Express (NASDAQ:PETS) Stock Crosses Above 200 Day Moving Average – Here’s Why

PetMed Express, Inc. (NASDAQ:PETS)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.81 and traded as high as $3.06. PetMed Express shares last traded at $2.95, with a volume of 67,631 shares traded.

Wall Street Analysts Forecast Growth

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

PetMed Express Stock Performance

The business’s 50 day moving average price is $3.28 and its 200-day moving average price is $2.81. The company has a market cap of $63.13 million, a price-to-earnings ratio of -0.95 and a beta of 0.70.

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

Institutional Trading of PetMed Express

Several institutional investors have recently bought and sold shares of PETS. Federated Hermes Inc. grew its position in PetMed Express by 30.1% in the fourth quarter. Federated Hermes Inc. now owns 627,743 shares of the company’s stock valued at $2,009,000 after acquiring an additional 145,357 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of PetMed Express by 5.4% in the 3rd 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. Steel Partners Holdings L.P. acquired a new stake in shares of PetMed Express during the 4th quarter worth about $620,000. Man Group plc lifted its holdings in 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. 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.

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.