PetMed Express, Inc. (NASDAQ:PETS) Short Interest Update

PetMed Express, Inc. (NASDAQ:PETS) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 1,617,488 shares, an increase of 164.2% from the June 15th total of 612,313 shares. Approximately 7.7% of the shares of the company are sold short. Based on an average trading volume of 3,205,121 shares, the days-to-cover ratio is presently 0.5 days.

PetMed Express Stock Performance

PETS stock opened at $1.91 on Tuesday. The company’s fifty day moving average price is $2.00 and its 200-day moving average price is $2.52. PetMed Express has a one year low of $1.57 and a one year high of $4.10. The company has a market capitalization of $40.82 million, a PE ratio of -0.69 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). The firm had revenue of $42.82 million during the quarter, compared to the consensus estimate of $52.00 million. PetMed Express had a negative return on equity of 76.86% and a negative net margin of 32.00%.During the same period last year, the firm posted ($0.56) earnings per share. On average, research analysts predict that PetMed Express will post 0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On PetMed Express

Several hedge funds have recently added to or reduced their stakes in PETS. Empowered Funds LLC grew its holdings in shares of PetMed Express by 9.3% in the first quarter. Empowered Funds LLC now owns 75,024 shares of the company’s stock worth $171,000 after purchasing an additional 6,373 shares during the last quarter. Sei Investments Co. lifted its holdings in PetMed Express by 42.0% during the 1st quarter. Sei Investments Co. now owns 23,000 shares of the company’s stock valued at $52,000 after buying an additional 6,800 shares in the last quarter. State Street Corp lifted its holdings in PetMed Express by 7.8% during the 4th quarter. State Street Corp now owns 105,173 shares of the company’s stock valued at $337,000 after buying an additional 7,600 shares in the last quarter. Man Group plc boosted its position in PetMed Express by 7.1% in the 3rd quarter. Man Group plc now owns 151,039 shares of the company’s stock valued at $379,000 after buying an additional 9,989 shares during the period. Finally, Formidable Asset Management LLC boosted its position in PetMed Express by 13.0% in the 1st quarter. Formidable Asset Management LLC now owns 105,201 shares of the company’s stock valued at $240,000 after buying an additional 12,141 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wall Street Zen raised PetMed Express from a “strong sell” rating to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings raised PetMed Express from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 29th. Finally, Zacks Research upgraded PetMed Express to a “hold” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PetMed Express currently has an average rating of “Reduce”.

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.