PetMed Express, Inc. (NASDAQ:PETS) Short Interest Up 164.2% in June

PetMed Express, Inc. (NASDAQ:PETS) was the recipient of 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. Based on an average daily volume of 3,205,121 shares, the short-interest ratio is presently 0.5 days. Currently, 7.7% of the company’s shares are short sold.

Analyst Ratings Changes

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

PetMed Express Price Performance

Shares of PETS stock traded up $0.05 during midday trading on Wednesday, hitting $2.00. The company had a trading volume of 140,710 shares, compared to its average volume of 385,561. The stock has a market cap of $42.74 million, a price-to-earnings ratio of -0.73 and a beta of 0.77. The company’s 50 day simple moving average is $1.99 and its 200 day simple moving average is $2.51. PetMed Express has a 52-week low of $1.57 and a 52-week high of $4.10.

PetMed Express (NASDAQ:PETS) last released its earnings results on Tuesday, June 2nd. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01). PetMed Express had a negative return on equity of 76.86% and a negative net margin of 32.00%.The firm had revenue of $42.82 million during the quarter, compared to analyst estimates of $52.00 million. During the same quarter last year, the business posted ($0.56) EPS. Analysts anticipate that PetMed Express will post 0.07 EPS for the current year.

Hedge Funds Weigh In On PetMed Express

Several hedge funds have recently bought and sold shares of PETS. Occudo Quantitative Strategies LP acquired a new position in PetMed Express in the 2nd quarter valued at about $51,000. Oxford Asset Management LLP acquired a new position in shares of PetMed Express in the 2nd quarter valued at $55,000. Sei Investments Co. increased its stake in PetMed Express by 42.0% during the first quarter. Sei Investments Co. now owns 23,000 shares of the company’s stock worth $52,000 after acquiring an additional 6,800 shares during the last quarter. Jain Global LLC purchased a new position in PetMed Express in the fourth quarter valued at approximately $78,000. Finally, Levin Capital Strategies L.P. purchased a new stake in PetMed Express during the 4th quarter worth $80,000. Hedge funds and other institutional investors 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.