Petco Health and Wellness (NASDAQ:WOOF) Shares Down 7.6% – Should You Sell?

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) dropped 7.6% during trading on Wednesday . The company traded as low as $2.95 and last traded at $2.90. Approximately 434,499 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 3,506,731 shares. The stock had previously closed at $3.14.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WOOF. Wedbush increased their price objective on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $6.00 target price on shares of Petco Health and Wellness in a report on Friday, December 20th. Morgan Stanley decreased their target price on shares of Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Wells Fargo & Company raised their target price on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Finally, StockNews.com lowered shares of Petco Health and Wellness from a “buy” rating to a “hold” rating in a report on Sunday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Petco Health and Wellness currently has an average rating of “Hold” and an average price target of $4.16.

Petco Health and Wellness Stock Performance

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 $888.63 million, a PE ratio of -7.01 and a beta of 1.88. The business’s fifty day moving average is $3.76 and its 200-day moving average is $3.96.

Hedge Funds Weigh In On Petco Health and Wellness

A number of institutional investors and hedge funds have recently made changes to their positions in WOOF. Aster Capital Management DIFC Ltd purchased a new position in shares of Petco Health and Wellness in the fourth quarter worth approximately $25,000. Scotia Capital Inc. bought a new stake in Petco Health and Wellness during the 4th quarter worth approximately $41,000. New York State Common Retirement Fund raised its stake in Petco Health and Wellness by 47.6% during the 4th quarter. New York State Common Retirement Fund now owns 11,508 shares of the company’s stock worth $44,000 after acquiring an additional 3,711 shares during the period. Blueprint Investment Partners LLC bought a new stake in Petco Health and Wellness during the 4th quarter worth approximately $44,000. Finally, Quantinno Capital Management LP bought a new stake in Petco Health and Wellness during the 4th quarter worth approximately $45,000.

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.