Wag! Group (NASDAQ:PET) Given Buy Rating at Chardan Capital

Wag! Group (NASDAQ:PET - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Chardan Capital in a report issued on Friday, Benzinga reports. They presently have a $8.00 price objective on the stock. Chardan Capital's target price would indicate a potential upside of 234.73% from the company's current price.

Wag! Group Trading Down 1.6 %

NASDAQ:PET traded down $0.04 on Friday, hitting $2.39. 65,491 shares of the stock were exchanged, compared to its average volume of 69,890. The company has a debt-to-equity ratio of 15.59, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market capitalization of $96.41 million, a price-to-earnings ratio of -6.91 and a beta of 2.01. The company's 50-day moving average price is $2.11 and its 200 day moving average price is $1.92. Wag! Group has a 52 week low of $1.59 and a 52 week high of $2.65.

Wag! Group (NASDAQ:PET - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.03. Wag! Group had a negative return on equity of 275.90% and a negative net margin of 15.87%. The company had revenue of $23.22 million during the quarter, compared to analysts' expectations of $22.60 million. On average, equities research analysts forecast that Wag! Group will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Dylan Allread sold 35,855 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $2.12, for a total value of $76,012.60. Following the completion of the sale, the chief operating officer now owns 439,555 shares of the company's stock, valued at approximately $931,856.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Adam Storm sold 48,221 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $2.20, for a total value of $106,086.20. Following the sale, the insider now owns 1,120,916 shares in the company, valued at approximately $2,466,015.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Dylan Allread sold 35,855 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $2.12, for a total value of $76,012.60. Following the completion of the sale, the chief operating officer now owns 439,555 shares in the company, valued at approximately $931,856.60. The disclosure for this sale can be found here. Insiders sold a total of 307,173 shares of company stock valued at $648,769 in the last quarter. 23.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PET. Cerity Partners LLC bought a new position in shares of Wag! Group in the fourth quarter worth $40,000. ATW Spac Management LLC acquired a new stake in Wag! Group in the third quarter valued at about $117,000. StepStone Group LP acquired a new stake in shares of Wag! Group during the third quarter valued at about $225,000. Finally, SVB Wealth LLC boosted its stake in shares of Wag! Group by 100.0% during the fourth quarter. SVB Wealth LLC now owns 140,000 shares of the company's stock valued at $245,000 after purchasing an additional 70,000 shares in the last quarter. Institutional investors own 86.16% of the company's stock.

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.