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

PetMed Express, Inc. (NASDAQ:PETS)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.87 and traded as high as $4.36. PetMed Express shares last traded at $4.22, with a volume of 262,598 shares trading hands.

Analysts Set New Price Targets

Separately, Lake Street Capital reiterated a “hold” rating and set a $3.50 target price (down from $7.00) on shares of PetMed Express in a research note on Wednesday, August 7th.

PetMed Express Price Performance

The stock’s 50 day simple moving average is $3.75 and its two-hundred day simple moving average is $3.87. The stock has a market capitalization of $86.93 million, a PE ratio of -24.82 and a beta of 0.68.

PetMed Express (NASDAQ:PETS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.30. PetMed Express had a negative return on equity of 3.44% and a negative net margin of 1.24%. The business had revenue of $67.95 million for the quarter, compared to the consensus estimate of $77.52 million. As a group, equities research analysts predict that PetMed Express, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Nina Capital Holdings Inc. acquired 12,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $3.34 per share, with a total value of $41,750.00. Following the acquisition, the insider now owns 2,078,000 shares in the company, valued at $6,940,520. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of PetMed Express by 0.8% during the first quarter. Vanguard Group Inc. now owns 1,186,485 shares of the company’s stock worth $5,683,000 after acquiring an additional 9,226 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in PetMed Express by 2,025.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 700,916 shares of the company’s stock worth $3,357,000 after purchasing an additional 667,946 shares in the last quarter. Federated Hermes Inc. boosted its stake in PetMed Express by 54.5% in the 2nd quarter. Federated Hermes Inc. now owns 606,430 shares of the company’s stock worth $2,456,000 after purchasing an additional 213,903 shares during the period. Cubist Systematic Strategies LLC purchased a new position in PetMed Express during the 2nd quarter valued at about $797,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of PetMed Express by 48.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 129,229 shares of the company’s stock valued at $620,000 after buying an additional 42,125 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

PetMed Express Company Profile

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.