Petco Health and Wellness (NASDAQ:WOOF) Trading Down 4.2% – Here’s What Happened

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price dropped 4.2% during trading on Thursday . The stock traded as low as $3.67 and last traded at $3.68. Approximately 918,212 shares changed hands during trading, a decline of 75% from the average daily volume of 3,742,638 shares. The stock had previously closed at $3.84.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $6.00 target price on shares of Petco Health and Wellness in a report on Friday, December 20th. Morgan Stanley raised their price target on Petco Health and Wellness from $3.00 to $6.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. StockNews.com raised Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company raised their target price on Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Finally, Wedbush boosted their target price on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Petco Health and Wellness presently has an average rating of “Hold” and an average price target of $4.25.

Petco Health and Wellness Trading Down 3.5 %

The business has a 50 day moving average of $4.24 and a 200-day moving average of $3.95. The stock has a market cap of $1.16 billion, a PE ratio of -9.26 and a beta of 1.90. The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 1.40.

Institutional Trading of Petco Health and Wellness

Several institutional investors and hedge funds have recently made changes to their positions in WOOF. Choreo LLC acquired a new position in Petco Health and Wellness in the 2nd quarter valued at about $45,000. Frank Rimerman Advisors LLC acquired a new position in shares of Petco Health and Wellness in the second quarter valued at approximately $50,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Petco Health and Wellness by 253.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company’s stock valued at $51,000 after buying an additional 8,056 shares during the period. Quadrature Capital Ltd acquired a new stake in Petco Health and Wellness during the third quarter worth approximately $58,000. Finally, Sanctuary Advisors LLC purchased a new stake in Petco Health and Wellness in the 3rd quarter worth approximately $66,000.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. The company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, as well as veterinary services through Vetco mobile clinics.