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BofA Securities downgrades Petco Health and Wellness Co Inc (WOOF) stock to an Underperform

Petco Health and Wellness Co Inc’s recently made public that its Director BRIGGS GARY S acquired Company’s shares for reported $99924.0 on Dec 01 ’23. In the deal valued at $3.33 per share,30,000 shares were bought. As a result of this transaction, BRIGGS GARY S now holds 70,085 shares worth roughly $0.12 million.

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BofA Securities downgraded its Petco Health and Wellness Co Inc [WOOF] rating to an Underperform from a a Buy in a research note published on April 02, 2024; the price target was decreased to $1.50 from $5. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in mid December with a ‘”a Hold”‘ rating. Robert W. Baird also remained covering WOOF and has decreased its forecast on November 30, 2023 with a “Neutral” recommendation from previously “an Outperform” rating. Wells Fargo revised its rating on November 29, 2023. It rated WOOF as “an Equal weight” which previously was an “an Overweight”.

Price Performance Review of WOOF

On Friday, Petco Health and Wellness Co Inc [NASDAQ:WOOF] saw its stock fall -5.68% to $1.66. Over the last five days, the stock has gained 7.10%. Petco Health and Wellness Co Inc shares have fallen nearly -47.47% since the year began. Nevertheless, the stocks have fallen -83.66% over the past one year. While a 52-week high of $10.76 was reached on 01/02/24, a 52-week low of $1.41 was recorded on 04/25/24. SMA at 50 days reached $1.9384, while 200 days put it at $3.4465. A total of 2.45 million shares were traded, compared to the trading of 2.79 million shares in the previous session.

Levels Of Support And Resistance For WOOF Stock

The 24-hour chart illustrates a support level at 1.5933, which if violated will result in even more drops to 1.5267. On the upside, there is a resistance level at 1.7733. A further resistance level may holdings at 1.8867. The Relative Strength Index (RSI) on the 14-day chart is 46.06, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.1176, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 39.41%. Stochastics %K at 83.04% indicates the stock is a selling.

The most recent change occurred on September 29, 2023 when Wolfe Research began covering the stock and recommended ‘”a Peer perform”‘ rating.

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