An interesting stock that came up in some of our conversations today is PetMed Express, Inc. (NASDAQ:PETS). At current price of $16.75, the shares have already added 0.55 points (3.4% higher) from its previous close of $16.2. Should you buy or avoid them? The stock sets an active trading volume day with a reported 571546 contracts so far this session. PETS shares had a relatively better volume day versus average trading capacity of 838.32 thousand shares, but with a 19.29 million float and a 1.82% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PETS stock indicates that the average analyst price target is $16 per share. This means the stock has a potential decrease of -4.48% from where the PETS share price has been trading recently which is between $15.55 and $16.31. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $12.
The shorts are running away from PetMed Express, Inc. (PETS) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a drop in short interest in PETS shares. While short interest still represents only 57.06% of PETS’s float, the number of shares shorted have fallen by -919013. The number of shares shorted fell to 10085561 shares, down from 11004574 shares during the preceding fortnight. With average daily trading volumes at 1551317 shares, days to cover decreased to about 15.86446 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Income Investors Should Know That PetMed Express, Inc. (NASDAQ:PETS) Goes Ex-Dividend Soon” and dated July 28, 2019.
During the recent trading session for PetMed Express, Inc. (NASDAQ:PETS), the company witnessed their stock rise $0.2 over a week and tumble down $-0.09 from the price 20 days ago. When compared to their established 52-week high of $38.9, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/20/18. The recent low of $15 stood for a -56.94% since 12/07/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.54 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 PetMed Express, Inc., the two-week RSI stands at 51.96. This figure suggests that PETS 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 PETS readings is similarly very revealing as it has a stochastic reading of 33.43% at this stage. This figure means that PETS share price today is being neutral.
Technical chart claims that PetMed Express, Inc. (PETS) would settle between $16.49/share to $16.78/share level. However, if the stock price goes below the $15.73 mark, then the market for PetMed Express, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $15.26 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.11. 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 PETS assigning Neutral rating, according to their opinion released on June 15. Sidoti analysts bumped their rating on PetMed Express, Inc. (NASDAQ:PETS) stock from Neutral to Buy in a separate flash note issued to investors on August 24. Analysts at Northcoast released an upgrade from Neutral to Buy for the stock, in a research note that dated back to July 24.
PETS equity has an average rating of 3, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 1 analysts rated PetMed Express, Inc. (NASDAQ:PETS) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, PETS stock price is currently trading at 13.27X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.17 while for the average stock in the same group, the multiple is 20.73. PetMed Express, Inc. current P/E ratio of 10.8 means it is trading at a discount against its industry’s 19.22. In the past 5 years, this ratio for the stock has been fluctuating between 12.37 and 24.51.