PetIQ, Inc. (NASDAQ:PETQ) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,509,340 shares, an increase of 65.1% from the October 31st total of 914,224 shares. Currently, 11.6% of the company’s stock are sold short. Based on an average daily trading volume, of 513,478 shares, the short-interest ratio is currently 2.9 days.

Institutional investors have recently added to or reduced their stakes in the company. Highbridge Capital Management LLC bought a new position in PetIQ in the 3rd quarter worth approximately $5,578,000. Alyeska Investment Group L.P. bought a new position in PetIQ in the 3rd quarter worth approximately $2,647,000. JW Asset Management LLC bought a new position in PetIQ in the 3rd quarter worth approximately $542,000. California State Teachers Retirement System bought a new position in PetIQ in the 3rd quarter worth approximately $320,000. Finally, Pier Capital LLC bought a new position in PetIQ in the 3rd quarter worth approximately $5,842,000. 56.49% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have commented on PETQ shares. Jefferies Group started coverage on shares of PetIQ in a research note on Tuesday, August 15th. They issued a “hold” rating and a $25.00 price objective for the company. William Blair started coverage on shares of PetIQ in a research note on Tuesday, August 15th. They issued an “outperform” rating for the company. SunTrust Banks started coverage on shares of PetIQ in a research note on Tuesday, August 15th. They issued a “buy” rating and a $28.00 price objective for the company. Oppenheimer started coverage on shares of PetIQ in a research note on Tuesday, August 15th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, Raymond James Financial started coverage on shares of PetIQ in a research note on Tuesday, August 15th. They issued an “outperform” rating and a $26.00 price objective for the company. Six research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $27.20.

PetIQ (NASDAQ PETQ) opened at $22.05 on Wednesday. PetIQ has a 52-week low of $17.03 and a 52-week high of $28.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 6.83.

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About PetIQ

PetIQ, Inc is engaged in manufacturing and distributing pet medication and health and wellness products to the retail channel in the United States. The Company provides retail stores with third-party brands, including Frontline Plus, Heartgard Plus, PetAction Plus, Advecta II, Pet Lock Plus, Pet Lock Max, TruProfen and Heartshield.

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