In May, the short interest was significantly lower. On May 31, there were 18,960,000 short shares, which is a decrease of 10.2% compared to the total of 21,110,000 on May 15. The short-interest rate is currently 4.1 days based on an average daily share volume of 4,590,000.
Chewy Trading down 2.2 %
Trading hours were held on Friday and the stock fell $0.88 to $39.64. The trading volume was 3,985,942 compared to the average of 5,276,819. The company has a $16,94 billion market cap, a P/E ratio of 330.33, and a beta value of 0.76. The fifty-day moving average is $33.94, and the two hundred day moving is $38.54. The company last announced its results on March 22nd. The company posted $0.04 per share in earnings for the third quarter, exceeding analysts' expectations of ($0.24). Revenue for the quarter was $2.71 billion, which is higher than analyst expectations of $2.64. Chewy's return on equity was 39.90%, and its net margin was 0.51%. Analysts at Equities Research expect Chewy to post a -0.02 per share earnings for the current fiscal.
Analyst Ratings Changes
Recently, several equity research analysts published reports on the company. JMP Securities began covering Chewy on Tuesday, 11th April. They gave the stock an 'outperform rating' and set a target price of $50.00. Roth Mkm began covering Chewy on Friday, 10th March. The stock was given a buy' rating with a target price of $52.00. Citigroup reduced its target price for Chewy in a Monday, March 27th report from $43.00 down to $36.00. They also set a "neutral" rating on the stock. Guggenheim reduced its target price for Chewy in a report published on April 20th from $50.00 down to $45.00. The stock was given a "buy" rating. Evercore ISI, in a research report on March 23rd, reduced its price target on Chewy to $53.00 from $55.00 and gave the stock an "outperform" rating. Seven analysts have given the stock a hold rating, and 12 have given it a buy rating. MarketBeat data shows that the stock average rating is 'Moderate' Buy with a consensus price target of $42.65
Chewy Insider Activities
In a deal dated June 14th, 25,445 shares were sold. The stock was bought at an average of $39.72 for a total of $1,010 675.40. The chief technology officer owns directly 521,470 of the company stock valued at $20.712,788.40. Chewy shares worth 70,677 were sold in a deal dated June 14th. The stock was bought at an average of $39.72 for a value of $2.807,290.44. The chief executive now owns directly 1,062,616 of the company's shares, worth $42,207.107.52. In a transaction that took place on Wednesday, 14th June, I sold 25,445 Chewy shares. The stock was purchased at a price of $39.72 on average, resulting in a value of $1,010 675.40. After the sale is complete, the chief technologist now owns directly 521,470 company shares, worth $20,712,788.40. Insiders sold 159.104 shares worth $6.319,611 in the past three months. Insiders control 2.10% the stock of a company.
Chewy: Institutional Trading
Hedge funds have bought and sold the stock in recent months. Belpointe Asset Management LLC purchased a new position of shares in Chewy worth $33,000 during the fourth quarter. Quarry LP increased the number of shares it owned in Chewy in the first quarter by 120.2%. Quarry LP owns 874 of the company stock, valued at $33,000. It acquired an additional 477 during the period. WASHINGTON TRUST Company acquired shares of Chewy during the first quarter, valued at $37,000. Quintet Private Bank Europe S.A. purchased a new position of shares in Chewy during the first quarter, valued at $37,000. CWM LLC also increased its holdings in Chewy shares by 39.3% during the fourth quarter. CWM LLC owns 1,014 of the company stock, valued at $38,000. This is after adding 286 additional shares. Hedge funds and institutional investors hold 99.05% the company's shares.
Chewy Company Profile
Chewy, Inc is a pet-only e-tailer that operates in the United States. It offers pet medication, food, treats, and other pet health products and services to dogs, cats and small pets. The company, which is headquartered at Dania Beach in Florida, was founded in September 2011 by Ryan Cohen and Michael Day.
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