Craig Hallum Downgrades Wag! Group (NASDAQ:PET) to Hold

Craig Hallum lowered shares of Wag! Group (NASDAQ:PET) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, Marketbeat reports.

Separately, Oppenheimer decreased their target price on Wag! Group from $6.00 to $3.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.40.

Wag! Group Price Performance

NASDAQ:PET opened at $0.17 on Thursday. The business has a fifty day simple moving average of $0.76 and a two-hundred day simple moving average of $1.19. Wag! Group has a 1 year low of $0.14 and a 1 year high of $2.47. The company has a market capitalization of $8.71 million, a P/E ratio of -0.45 and a beta of 1.79.

Insider Activity

In other news, CFO Alec Davidian sold 36,204 shares of Wag! Group stock in a transaction on Monday, September 9th. The stock was sold at an average price of $0.72, for a total value of $26,066.88. Following the completion of the transaction, the chief financial officer now directly owns 839,400 shares in the company, valued at approximately $604,368. The trade was a 4.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Patrick Mccarthy sold 46,544 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $0.72, for a total value of $33,511.68. Following the transaction, the chief marketing officer now owns 722,605 shares of the company’s stock, valued at approximately $520,275.60. The trade was a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 199,383 shares of company stock worth $143,556. 23.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wag! Group

A hedge fund recently raised its stake in Wag! Group stock. Whetstone Capital Advisors LLC raised its holdings in shares of Wag! Group Co. (NASDAQ:PET) by 156.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,222,413 shares of the company’s stock after buying an additional 1,354,558 shares during the quarter. Wag! Group comprises about 0.9% of Whetstone Capital Advisors LLC’s holdings, making the stock its 25th largest position. Whetstone Capital Advisors LLC owned 4.55% of Wag! Group worth $1,911,000 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.