This significant increase in short interest signals a potential bearish sentiment toward the company, possibly reflecting concerns about its future performance, the financial health of the online pet pharmacy, or the overall market conditions. However, there is another perspective: short-selling itself can be an indicator of potential value. The rise in short interest might be driven by investors who believe that PetMed Express is undervalued and is poised for a significant price increase.
Get PetMed Express alerts: PetMed Express Stock Performance Shares of PETS traded up $0.10 during mid-day trading on Tuesday, reaching $3.67. 204,618 shares of the company’s stock traded hands, compared to its average volume of 359,948. PetMed Express has a 12 month low of $2.90 and a 12 month high of $11.80. The stock has a market capitalization of $75.60 million, a P/E ratio of -9.72 and a beta of 0.71. The business’s 50-day moving average price is $3.48 and its 200-day moving average price is $4.07. Analysts Set New Price Targets PetMed Express ( NASDAQ:PETS Get Free Report ) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.30. The business had revenue of $67.95 million during the quarter, compared to the consensus estimate of $77.52 million. PetMed Express had a negative net margin of 1.24% and a negative return on equity of 3.44%. Equities research analysts anticipate that PetMed Express will post 0.08 EPS for the current year.
Several equities analysts have recently commented on PETS shares. Lake Street Capital reaffirmed a “hold” rating and set a $3.50 price target (down previously from $7.00) on shares of PetMed Express in a research report on Wednesday, August 7th. Morgan Stanley decreased their target price on PetMed Express from $6.50 to $3.50 and set an “underweight” rating for the company in a research report on Wednesday, June 12th. View Our Latest Stock Analysis on PETS About PetMed Express (Get Free Report) 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 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.
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