Short Interest in Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) Grows By 55,443.8%

Key Points

• Short interest in Petco Health and Wellness surged by 55,443.8% from June 30 to July 15, totaling approximately 20.94 million shares, which constitutes about 15.6% of the company's stock.
• Petco reported a loss of $0.04 EPS for the last quarter, missing expectations, with revenue falling 2.3% year-over-year to $1.49 billion.
• Analysts have mixed ratings on Petco, with a consensus rating of "Hold" and an average target price of $3.75, while some analysts reduced their target price amidst recent performance concerns.

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 20,940,000 shares, agrowthof55,443.8% from the June 30th total of 37,700 shares. Based on an average daily volume of 4,470,000 shares, the days-to-cover ratio is presently 4.7 days. Currently,15.6% of the company's stock are sold short. Currently,15.6% of the company's stock are sold short. Based on an average daily volume of 4,470,000 shares, the days-to-cover ratio is presently 4.7 days.

Institutional Investors Weigh In On Petco Health and Wellness

Hedge funds and other institutional investors have recently bought and sold shares of the company. Simon Quick Advisors LLC purchased a new position in shares of Petco Health and Wellness in the second quarter worth about $38,000. Brookwood Investment Group LLC acquired a new position in shares of Petco Health and Wellness in the second quarter valued at approximately $28,000. Focus Partners Advisor Solutions LLC grew its holdings in Petco Health and Wellness by 70.4% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 17,075 shares of the company's stock worth $48,000 after acquiring an additional 7,055 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Petco Health and Wellness by 747.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 11,090 shares of the company's stock worth $31,000 after acquiring an additional 9,782 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in Petco Health and Wellness by 51.2% during the 2nd quarter. Bleakley Financial Group LLC now owns 110,114 shares of the company's stock worth $312,000 after acquiring an additional 37,273 shares in the last quarter.

Petco Health and Wellness Trading Up 1.5%

Shares of Petco Health and Wellness stock traded up $0.05 during trading on Tuesday, reaching $2.99. 555,852 shares of the stock were exchanged, compared to its average volume of 4,378,075. The company has a quick ratio of 0.25, a current ratio of 0.85 and a debt-to-equity ratio of 1.43. The stock's fifty day moving average is $3.07 and its 200 day moving average is $3.07. The firm has a market cap of $940.65 million, a price-to-earnings ratio of -12.44 and a beta of 1.72. Petco Health and Wellness has a 1 year low of $2.23 and a 1 year high of $6.29.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Petco Health and Wellness had a negative return on equity of 4.29% and a negative net margin of 1.10%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm posted ($0.04) EPS. As a group, equities research analysts expect that Petco Health and Wellness will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Petco Health and Wellness from $3.00 to $3.50 and gave the company an "equal weight" rating in a research report on Friday, June 6th. Morgan Stanley dropped their price objective on Petco Health and Wellness from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research note on Friday, June 6th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $3.75.

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.