Wag! Group (NASDAQ:PET) Downgraded by Lake Street Capital to “Hold”

Wag! Group (NASDAQ:PET) was downgraded by stock analysts at Lake Street Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

PET has been the subject of a number of other reports. Roth Mkm lowered their price objective on shares of Wag! Group from $4.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, July 16th. Oppenheimer dropped their target price on Wag! Group from $6.00 to $3.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Craig Hallum downgraded Wag! Group from a “buy” rating to a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Wag! Group has an average rating of “Moderate Buy” and a consensus price target of $4.40.

Wag! Group Stock Down 3.8 %

Shares of Wag! Group stock traded down $0.01 during trading on Wednesday, hitting $0.17. 2,434,150 shares of the stock traded hands, compared to its average volume of 199,730. The firm’s fifty day moving average is $0.76 and its 200-day moving average is $1.20. The stock has a market cap of $8.54 million, a price-to-earnings ratio of -0.45 and a beta of 1.79. Wag! Group has a 52 week low of $0.14 and a 52 week high of $2.47.

Insiders Place Their Bets

In other Wag! Group news, CFO Alec Davidian sold 36,204 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $0.72, for a total transaction of $26,066.88. Following the transaction, the chief financial officer now owns 839,400 shares in the company, valued at approximately $604,368. This represents a 4.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder John P. Szabo, Jr. bought 61,519 shares of the stock in a transaction dated Thursday, September 19th. The stock was purchased at an average price of $0.82 per share, with a total value of $50,445.58. Following the purchase, the insider now owns 3,061,519 shares in the company, valued at $2,510,445.58. This trade represents a 2.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 251,727 shares of company stock worth $188,048. 23.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wag! Group

An institutional investor recently bought a new position in Wag! Group stock. Cowen AND Company LLC acquired a new stake in shares of Wag! Group Co. (NASDAQ:PET) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 45,000 shares of the company’s stock, valued at approximately $72,000. Cowen AND Company LLC owned about 0.11% of Wag! Group at the end of the most recent quarter. Hedge funds and other institutional investors own 86.16% of the company’s stock.

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.