Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Petco Health and Wellness Co Inc shares valued at $99,924 were purchased by BRIGGS GARY S on Dec 01 ’23. At $3.33 per share, BRIGGS GARY S acquired 30,000 shares. The insider’s holdings grew to 70,085 shares worth approximately $0.13 million following the completion of this transaction.
As published in a research note from BofA Securities on April 02, 2024, Petco Health and Wellness Co Inc [WOOF] has been rated down from a Buy to an Underperform and the price target has been revised to $1.50 from $5. Analysts at Jefferies started covering the stock with ‘”a Hold”‘ outlook in a report released in mid December. As of November 30, 2023, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for WOOF. Earlier on November 29, 2023, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for WOOF stock which previously was a “an Overweight”.
Analyzing WOOF Stock Performance
During the last five days, there has been a drop of approximately -7.50%. Over the course of the year, Petco Health and Wellness Co Inc shares have dropped approximately -41.46%. Shares of the company reached a 52-week high of $3.2750 on 01/02/24 and a 52-week low of $1.7322 on 04/10/24. A 50-day SMA is recorded $2.3550, while a 200-day SMA reached $4.2304. Nevertheless, trading volume fell to 2.8 million shares from 1.81 million shares the previous day.
Support And Resistance Levels for Petco Health and Wellness Co Inc (WOOF)
According to the 24-hour chart, there is a support level at 1.7681, which, if violated, would cause prices to drop to 1.6863. In the upper region, resistance lies at 1.8959. The next price resistance is at 1.9419. RSI (Relative Strength Index) is 35.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1033, which suggests the price will decrease in the coming days. Percent R is at 79.61%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Petco Health and Wellness Co Inc subject to short interest?
Stocks of Petco Health and Wellness Co Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 2.39 million shares to 23.97 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 21.58 million shares. A jump of 9.97% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.92 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.92.
