Wag! Group Co. (NASDAQ:PET) Short Interest Down 13.5% in December

Wag! Group Co. (NASDAQ:PET) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 2,960,000 shares, a decrease of 13.5% from the November 30th total of 3,420,000 shares. Currently, 12.3% of the company’s shares are sold short. Based on an average trading volume of 2,470,000 shares, the days-to-cover ratio is currently 1.2 days.

Analysts Set New Price Targets

PET has been the topic of several research analyst reports. Craig Hallum lowered Wag! Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Lake Street Capital downgraded shares of Wag! Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4.40.

Wag! Group Stock Performance

Wag! Group stock opened at $0.27 on Tuesday. The firm has a market capitalization of $13.34 million, a PE ratio of -0.69 and a beta of 1.22. Wag! Group has a one year low of $0.14 and a one year high of $2.47. The stock’s 50 day moving average price is $0.37 and its 200 day moving average price is $0.83.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Wag! Group stock. Whetstone Capital Advisors LLC increased its stake in Wag! Group Co. (NASDAQ:PET) by 156.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,222,413 shares of the company’s stock after buying an additional 1,354,558 shares during the period. Wag! Group comprises about 0.9% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 25th largest position. Whetstone Capital Advisors LLC owned approximately 4.55% of Wag! Group worth $1,911,000 as of its most recent filing with the Securities and Exchange Commission. 86.16% of the stock is currently owned by hedge funds and other 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.