Petco Health and Wellness (NASDAQ:WOOF) Trading Down 3.2% - Here's Why

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report)'s stock price was down 3.2% during trading on Tuesday . The company traded as low as $3.52 and last traded at $3.52. Approximately 680,248 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 4,397,101 shares. The stock had previously closed at $3.63.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wedbush reduced their price objective on shares of Petco Health and Wellness from $6.00 to $4.00 and set an "outperform" rating for the company in a report on Thursday, March 27th. Citigroup reduced their price target on shares of Petco Health and Wellness from $5.00 to $2.75 and set a "neutral" rating for the company in a research report on Tuesday, March 18th. Wall Street Zen upgraded shares of Petco Health and Wellness from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. The Goldman Sachs Group upped their price target on shares of Petco Health and Wellness from $4.00 to $4.48 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, UBS Group lowered their price objective on shares of Petco Health and Wellness from $5.50 to $3.25 and set a "neutral" rating for the company in a research note on Thursday, March 27th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.00.

Petco Health and Wellness Stock Up 1.4%

The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40. The company has a market cap of $1.14 billion, a P/E ratio of -9.08 and a beta of 1.74. The business's 50 day moving average is $3.20 and its 200 day moving average is $3.45.

Institutional Investors Weigh In On Petco Health and Wellness

Several hedge funds have recently made changes to their positions in WOOF. Aster Capital Management DIFC Ltd acquired a new stake in Petco Health and Wellness in the 4th quarter worth $25,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Petco Health and Wellness during the 1st quarter worth approximately $31,000. R Squared Ltd grew its holdings in Petco Health and Wellness by 152.7% during the first quarter. R Squared Ltd now owns 10,670 shares of the company's stock valued at $33,000 after purchasing an additional 6,447 shares during the period. Kapitalo Investimentos Ltda acquired a new position in Petco Health and Wellness during the first quarter valued at approximately $37,000. Finally, Scotia Capital Inc. acquired a new position in Petco Health and Wellness during the fourth quarter valued at approximately $41,000.

About Petco Health and Wellness

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.