Freshpet (NASDAQ:FRPT) Sees Unusually-High Trading Volume – Here’s What Happened

Freshpet, Inc. (NASDAQ:FRPT) saw strong trading volume on Friday . 1,603,014 shares changed hands during mid-day trading, an increase of 85% from the previous session’s volume of 867,597 shares.The stock last traded at $101.97 and had previously closed at $106.39.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FRPT shares. JPMorgan Chase & Co. boosted their price target on shares of Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. TD Cowen boosted their price target on shares of Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. DA Davidson boosted their price target on shares of Freshpet from $183.00 to $189.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Piper Sandler reduced their price target on shares of Freshpet from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, StockNews.com cut shares of Freshpet from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $161.93.

Freshpet Trading Down 5.8 %

The firm has a market capitalization of $4.87 billion, a PE ratio of 106.65 and a beta of 1.42. The company has a quick ratio of 3.91, a current ratio of 4.72 and a debt-to-equity ratio of 0.41. The stock’s fifty day simple moving average is $145.55 and its 200 day simple moving average is $143.03.

Freshpet (NASDAQ:FRPT) last announced its earnings results on Thursday, February 20th. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $262.71 million during the quarter, compared to analysts’ expectations of $275.46 million. Freshpet had a net margin of 4.81% and a return on equity of 3.92%. On average, sell-side analysts predict that Freshpet, Inc. will post 1.55 earnings per share for the current year.

Insider Transactions at Freshpet

In other news, President Scott James Morris sold 5,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $157.38, for a total value of $786,900.00. Following the completion of the sale, the president now directly owns 122,380 shares of the company’s stock, valued at $19,260,164.40. This represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Freshpet

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Elequin Capital LP purchased a new position in Freshpet during the fourth quarter valued at $29,000. Geneos Wealth Management Inc. grew its stake in Freshpet by 302.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 201 shares of the company’s stock valued at $30,000 after acquiring an additional 151 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Freshpet during the third quarter valued at $32,000. Jones Financial Companies Lllp grew its stake in Freshpet by 130.9% during the fourth quarter. Jones Financial Companies Lllp now owns 217 shares of the company’s stock valued at $32,000 after acquiring an additional 123 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Freshpet during the fourth quarter valued at $39,000.

About Freshpet

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.