PetIQ Inc (PETQ) Short Interest Up 46.4% in November
PetIQ Inc (NASDAQ:PETQ) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 2,210,226 shares, a growth of 46.4% from the November 15th total of 1,509,340 shares. Based on an average trading volume of 263,966 shares, the days-to-cover ratio is presently 8.4 days. Approximately 17.0% of the company’s shares are short sold.
Separately, Jefferies Group upped their price target on shares of PetIQ from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, November 7th. Six equities research analysts have rated the stock with a buy rating, PetIQ has an average rating of “Buy” and a consensus price target of $27.20.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Eos Management L.P. acquired a new position in shares of PetIQ during the third quarter valued at about $143,836,000. Wasatch Advisors Inc. acquired a new position in shares of PetIQ during the third quarter valued at about $7,229,000. Cortina Asset Management LLC acquired a new position in shares of PetIQ during the third quarter valued at about $5,956,000. Pier Capital LLC acquired a new position in shares of PetIQ during the third quarter valued at about $5,842,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of PetIQ during the third quarter valued at about $5,578,000. Hedge funds and other institutional investors own 56.49% of the company’s stock.
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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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