Wag! Group (NASDAQ:PET) Shares Down 8.2% – Here’s Why

Wag! Group Co. (NASDAQ:PET)’s stock price dropped 8.2% during trading on Monday . The company traded as low as $0.77 and last traded at $0.77. Approximately 283,676 shares changed hands during trading, an increase of 160% from the average daily volume of 109,253 shares. The stock had previously closed at $0.84.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PET shares. Oppenheimer decreased their price objective on shares of Wag! Group from $6.00 to $3.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Roth Mkm lowered their price target on Wag! Group from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $4.40.

Wag! Group Stock Performance

The firm has a market cap of $31.14 million, a P/E ratio of -2.13 and a beta of 1.75. The business’s 50-day simple moving average is $0.85 and its 200 day simple moving average is $1.43.

Wag! Group (NASDAQ:PET) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). Wag! Group had a negative return on equity of 1,880.60% and a negative net margin of 14.24%. The company had revenue of $18.65 million during the quarter, compared to analyst estimates of $18.60 million. As a group, equities research analysts expect that Wag! Group Co. will post -0.2 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder John P. Szabo, Jr. acquired 90,000 shares of Wag! Group stock in a transaction dated Wednesday, July 17th. The stock was purchased at an average cost of $1.41 per share, for a total transaction of $126,900.00. Following the purchase, the insider now directly owns 660,000 shares of the company’s stock, valued at approximately $930,600. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, CMO Patrick Mccarthy sold 46,544 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $0.72, for a total transaction of $33,511.68. Following the sale, the chief marketing officer now directly owns 722,605 shares in the company, valued at $520,275.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder John P. Szabo, Jr. bought 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was purchased at an average cost of $1.41 per share, with a total value of $126,900.00. Following the acquisition, the insider now directly owns 660,000 shares in the company, valued at $930,600. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 201,519 shares of company stock valued at $223,846 and have sold 251,727 shares valued at $188,048. 23.20% of the stock is currently owned by insiders.

Institutional Trading of Wag! Group

A hedge fund recently bought a new stake in Wag! Group stock. Cowen AND Company LLC acquired a new stake in shares of Wag! Group Co. (NASDAQ:PET) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 45,000 shares of the company’s stock, valued at approximately $72,000. Cowen AND Company LLC owned about 0.11% of Wag! Group as of its most recent SEC filing. Hedge funds and other institutional investors own 86.16% of the company’s stock.

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.