PetIQ, Inc. (NASDAQ:PETQ) is one of the best performers on the stock market today. At current price of $28.91, the shares have already added 1.09 points (3.9% higher) from its previous close of $27.82. Should you buy or avoid them? The stock sets an active trading volume day with a reported 208666 contracts so far this session. PETQ shares had a relatively better volume day versus average trading capacity of 506.16 thousand shares, but with a 22.06 million float and a -2.21% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PETQ stock indicates that the average analyst price target is $41.75 per share. This means the stock has a potential increase of 44.41% from where the PETQ share price has been trading recently which is between $27.53 and $28.5. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $37.
The shorts are climbing into PetIQ, Inc. (PETQ) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in PETQ shares. While short interest still represents only 24.53% of PETQ’s float, the number of shares shorted have risen by 3466. The number of shares shorted advanced to 5414878 shares, up from 5411412 shares during the preceding fortnight. With average daily trading volumes at 642828 shares, days to cover decreased to about 15.51851 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “PETIQ INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 Investing In PetIQ Inc. To Contact The Firm” and dated May 15, 2019.
During the recent trading session for PetIQ, Inc. (NASDAQ:PETQ), the company witnessed their stock rise $0.8 over a week and tumble down $-2.76 from the price 20 days ago. When compared to their established 52-week high of $43.93, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/18/18. The recent low of $17.56 stood for a -34.2% since 05/18/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for PetIQ, Inc., the two-week RSI stands at 50.48. This figure suggests that PETQ stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current PETQ readings is similarly very revealing as it has a stochastic reading of 57% at this stage. This figure means that PETQ share price today is being neutral.
Technical chart claims that PetIQ, Inc. (PETQ) would settle between $28.37/share to $28.92/share level. However, if the stock price goes below the $27.4 mark, then the market for PetIQ, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $26.98 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.18. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at CL King, assumed coverage of PETQ assigning Buy rating, according to their opinion released on September 28.
PETQ equity has an average rating of 1.4, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated PetIQ, Inc. (NASDAQ:PETQ) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, PETQ stock price is currently trading at 22.77X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.4 while for the average stock in the same group, the multiple is 4.05. PetIQ, Inc. current P/E ratio of 142.35 means it is trading at a premium against its industry’s 43.68. In the past 5 years, this ratio for the stock has been fluctuating between 0 and 0.
PetIQ, Inc. (PETQ)’s current-quarter revenues are projected to climb by nearly 13.27% to hit $193840, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 16.26% from $528610 to a noteworthy $614580. At the other end of the current quarter income statement, PetIQ, Inc. is expected to see its adjusted earnings surge by roughly -43.94% to hit $0.37 per share. For the fiscal year, PETQ’s earnings are projected to climb by roughly -30.4% to hit $0.87 per share.