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Truist Downgrades PetIQ Inc (PETQ) to a Hold from a Buy

In a filing, PetIQ Inc revealed its Director Huff Scott unloaded Company’s shares for reported $0.27 million on Jun 12 ’24. In the deal valued at $22.19 per share,12,117 shares were sold. As a result of this transaction, Huff Scott now holds 0 shares worth roughly $0.0.

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Truist downgraded its PetIQ Inc [PETQ] rating to a Hold from a a Buy in a research note published on August 08, 2024; the price target was increased to $31 from $30. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in mid December with a ‘”a Buy”‘ rating. Lake Street began covering PETQ with “Buy” recommendation on September 06, 2023. Oppenheimer revised its rating on May 13, 2022. It rated PETQ as “a Perform” which previously was an “an Outperform”.

Price Performance Review of PETQ

On Monday, PetIQ Inc [NASDAQ:PETQ] saw its stock jump 0.13% to $30.97. Over the last five days, the stock has gained 0.29%. PetIQ Inc shares have risen nearly 56.81% since the year began. Nevertheless, the stocks have risen 59.07% over the past one year. While a 52-week high of $31.06 was reached on 10/08/24, a 52-week low of $15.09 was recorded on 03/15/24. SMA at 50 days reached $30.69, while 200 days put it at $22.16.

Levels Of Support And Resistance For PETQ Stock

The 24-hour chart illustrates a support level at 30.94, which if violated will result in even more drops to 30.90. On the upside, there is a resistance level at 31.00. A further resistance level may holdings at 31.02. The Relative Strength Index (RSI) on the 14-day chart is 80.94, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 31.03%. Stochastics %K at 63.29% indicates the stock is a holding.

How much short interest is there in PetIQ Inc?

A steep rise in short interest was recorded in PetIQ Inc stocks on 2024-09-30, growing by 12769.0 shares to a total of 1.21 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 1.19 million shares. There was a rise of 1.06%, which implies that there is a positive sentiment for the stock.

The most recent change occurred on November 30, 2021 when The Benchmark Company began covering the stock and recommended ‘”a Buy”‘ rating along with a $30 price target.

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