PetMed Express (NASDAQ:PETS) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of PetMed Express, Inc. (NASDAQ:PETS) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.87 and traded as high as $3.55. PetMed Express shares last traded at $3.47, with a volume of 108,088 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PETS. Zacks Research upgraded shares of PetMed Express from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen lowered shares of PetMed Express from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of PetMed Express in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell” and an average price target of $3.20.

PetMed Express Stock Down 2.3%

The firm has a 50 day moving average price of $2.46 and a 200 day moving average price of $2.86. The stock has a market cap of $74.15 million, a P/E ratio of -1.31 and a beta of 0.75.

PetMed Express (NASDAQ:PETS) last announced its quarterly earnings data on Friday, December 19th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.45). PetMed Express had a negative net margin of 28.22% and a negative return on equity of 40.26%. The company had revenue of $44.36 million for the quarter. Equities analysts predict that PetMed Express, Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PETS. CIBC Private Wealth Group LLC bought a new position in PetMed Express in the 3rd quarter worth $75,000. CIBC Bancorp USA Inc. purchased a new position in shares of PetMed Express in the third quarter valued at about $153,000. Man Group plc boosted its stake in shares of PetMed Express by 7.1% in the third quarter. Man Group plc now owns 151,039 shares of the company’s stock worth $379,000 after acquiring an additional 9,989 shares during the period. Bridgeway Capital Management LLC grew its position in shares of PetMed Express by 164.3% during the third quarter. Bridgeway Capital Management LLC now owns 107,816 shares of the company’s stock worth $271,000 after purchasing an additional 67,016 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in PetMed Express by 5.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 481,517 shares of the company’s stock valued at $1,209,000 after purchasing an additional 24,624 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

PetMed Express Company Profile

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.