Petco Health and Wellness (NASDAQ:WOOF) Trading Down 9% – Here’s Why

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) shares fell 9% on Friday . The stock traded as low as $3.64 and last traded at $3.65. 1,851,144 shares changed hands during trading, a decline of 54% from the average session volume of 3,998,682 shares. The stock had previously closed at $4.01.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WOOF. Citigroup upped their price objective on Petco Health and Wellness from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company boosted their price target on Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. StockNews.com upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Monday, December 9th. Morgan Stanley upped their target price on shares of Petco Health and Wellness from $3.00 to $6.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Finally, Wedbush raised their price target on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.25.

Petco Health and Wellness Trading Down 6.5 %

The stock’s fifty day simple moving average is $4.29 and its 200 day simple moving average is $3.94. The firm has a market capitalization of $1.18 billion, a PE ratio of -9.38 and a beta of 1.90. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WOOF. Caprock Group LLC purchased a new stake in Petco Health and Wellness in the 2nd quarter worth approximately $44,000. Choreo LLC bought a new position in shares of Petco Health and Wellness in the second quarter worth approximately $45,000. Frank Rimerman Advisors LLC bought a new stake in shares of Petco Health and Wellness during the 2nd quarter valued at $50,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Petco Health and Wellness by 253.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company’s stock valued at $51,000 after purchasing an additional 8,056 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in shares of Petco Health and Wellness during the 3rd quarter valued at $58,000.

About Petco Health and Wellness

Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. The company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, as well as veterinary services through Vetco mobile clinics.