Wag! Group (NASDAQ:PET) Earns Buy Rating from Chardan Capital

Wag! Group (NASDAQ:PET)‘s stock had its “buy” rating reiterated by analysts at Chardan Capital in a note issued to investors on Friday, Benzinga reports. They currently have a $8.00 price target on the stock. Chardan Capital’s target price points to a potential upside of 230.58% from the company’s previous close.

Wag! Group Stock Down 0.8 %

PET stock traded down $0.02 during mid-day trading on Friday, hitting $2.42. The stock had a trading volume of 26,313 shares, compared to its average volume of 69,455. The stock has a market capitalization of $97.62 million, a price-to-earnings ratio of -6.97 and a beta of 2.01. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 15.59. Wag! Group has a 1-year low of $1.59 and a 1-year high of $2.65. The company has a fifty day moving average of $2.11 and a 200 day moving average of $1.92.

Wag! Group (NASDAQ:PET) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. Wag! Group had a negative net margin of 15.87% and a negative return on equity of 275.90%. The company had revenue of $23.22 million for the quarter, compared to analyst estimates of $22.60 million. On average, equities analysts expect that Wag! Group will post -0.14 EPS for the current fiscal year.

Insider Activity

In related news, COO Dylan Allread sold 23,008 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $2.05, for a total value of $47,166.40. Following the transaction, the chief operating officer now directly owns 448,750 shares in the company, valued at $919,937.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Dylan Allread sold 23,008 shares of Wag! Group stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $2.05, for a total transaction of $47,166.40. Following the transaction, the chief operating officer now owns 448,750 shares in the company, valued at approximately $919,937.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Garrett Smallwood sold 48,164 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $2.19, for a total transaction of $105,479.16. Following the sale, the chief executive officer now owns 1,014,812 shares in the company, valued at $2,222,438.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 307,173 shares of company stock worth $648,769. Corporate insiders own 23.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. SVB Wealth LLC increased its holdings in shares of Wag! Group by 100.0% in the fourth quarter. SVB Wealth LLC now owns 140,000 shares of the company’s stock valued at $245,000 after purchasing an additional 70,000 shares during the last quarter. Cerity Partners LLC acquired a new stake in Wag! Group during the fourth quarter worth approximately $40,000. ATW Spac Management LLC acquired a new position in shares of Wag! Group in the third quarter valued at approximately $117,000. Finally, StepStone Group LP bought a new position in shares of Wag! Group during the third quarter worth approximately $225,000. 86.16% of the stock is currently owned by 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.