Wag! Group Co. (NASDAQ:PET) Short Interest Down 51.5% in March

Wag! Group Co. (NASDAQ:PET - Get Free Report) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 21,900 shares, a drop of 51.5% from the March 15th total of 45,200 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 73,600 shares, the days-to-cover ratio is currently 0.3 days.

Wag! Group Price Performance

NASDAQ:PET traded up $0.04 during trading hours on Thursday, hitting $2.11. 8,566 shares of the company's stock traded hands, compared to its average volume of 71,461. Wag! Group has a 52 week low of $1.59 and a 52 week high of $2.70. The business's fifty day simple moving average is $2.04 and its two-hundred day simple moving average is $1.87. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 15.59. The firm has a market cap of $85.24 million, a P/E ratio of -6.00 and a beta of 2.33.

Wag! Group (NASDAQ:PET - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). Wag! Group had a negative net margin of 15.87% and a negative return on equity of 275.90%. The business had revenue of $21.67 million during the quarter, compared to analysts' expectations of $20.70 million. On average, research analysts anticipate that Wag! Group will post -0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Dylan Allread sold 26,703 shares of Wag! Group stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $1.67, for a total value of $44,594.01. Following the completion of the transaction, the chief operating officer now directly owns 325,000 shares in the company, valued at approximately $542,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Adam Storm sold 13,227 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $2.00, for a total value of $26,454.00. Following the sale, the insider now directly owns 855,916 shares of the company's stock, valued at $1,711,832. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Dylan Allread sold 26,703 shares of the firm's stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $1.67, for a total transaction of $44,594.01. Following the completion of the transaction, the chief operating officer now owns 325,000 shares of the company's stock, valued at $542,750. The disclosure for this sale can be found here. Insiders sold 329,308 shares of company stock worth $671,296 over the last quarter. 23.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wag! Group

Several hedge funds have recently bought and sold shares of PET. Vanguard Group Inc. lifted its stake in Wag! Group by 300.9% during the third quarter. Vanguard Group Inc. now owns 488,301 shares of the company's stock worth $952,000 after purchasing an additional 366,510 shares during the last quarter. StepStone Group LP purchased a new position in shares of Wag! Group during the 3rd quarter valued at about $225,000. SVB Wealth LLC lifted its position in Wag! Group by 100.0% in the 4th quarter. SVB Wealth LLC now owns 140,000 shares of the company's stock worth $245,000 after buying an additional 70,000 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Wag! Group in the 1st quarter worth approximately $155,000. Finally, ATW Spac Management LLC purchased a new stake in Wag! Group in the third quarter worth approximately $117,000. 86.16% of the stock is currently owned by institutional investors.

About Wag! Group

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.