Wag! Group (NASDAQ:PET) Downgraded to Hold Rating by Craig Hallum

Craig Hallum downgraded shares of Wag! Group (NASDAQ:PET) from a buy rating to a hold rating in a research report released on Thursday morning, MarketBeat reports.

Separately, Oppenheimer reduced their target price on Wag! Group from $6.00 to $3.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.40.

Wag! Group Stock Performance

NASDAQ PET traded down $0.01 during trading hours on Thursday, hitting $0.17. 2,319,760 shares of the company’s stock were exchanged, compared to its average volume of 199,081. The business’s 50 day moving average is $0.77 and its 200-day moving average is $1.22. Wag! Group has a 12-month low of $0.14 and a 12-month high of $2.47. The firm has a market capitalization of $8.54 million, a P/E ratio of -0.42 and a beta of 1.79.

Insiders Place Their Bets

In other news, CFO Alec Davidian sold 36,204 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $0.72, for a total value of $26,066.88. Following the completion of the sale, the chief financial officer now owns 839,400 shares in the company, valued at approximately $604,368. This trade represents a 4.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Patrick Mccarthy sold 46,544 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $0.72, for a total value of $33,511.68. Following the completion of the sale, the chief marketing officer now owns 722,605 shares of the company’s stock, valued at approximately $520,275.60. This trade represents a 6.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 251,727 shares of company stock worth $188,048 over the last three months. 23.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Wag! Group

An institutional investor recently bought a new position in Wag! Group stock. Cowen AND Company LLC acquired a new stake in shares of Wag! Group Co. (NASDAQ:PET) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 45,000 shares of the company’s stock, valued at approximately $72,000. Cowen AND Company LLC owned approximately 0.11% of Wag! Group as of its most recent SEC filing. 86.16% of the stock is currently owned by institutional investors.

Wag! Group Company Profile

Wag! Group Co develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents. Its platform allows pet parents, who require specific pet care services, such as dog walking, pet sitting and boarding, advice from licensed pet experts, home visits, training, and pet insurance comparison tools.