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

Lake Street Capital cut shares of Wag! Group (NASDAQ:PET) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Roth Mkm cut their price objective on shares of Wag! Group from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Craig Hallum cut Wag! Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Oppenheimer cut their target price on Wag! Group from $6.00 to $3.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Wag! Group presently has an average rating of “Moderate Buy” and a consensus target price of $4.40.

Wag! Group Stock Down 3.8 %

Wag! Group stock opened at $0.17 on Wednesday. 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 12-month low of $0.14 and a 12-month high of $2.47. The business’s 50-day simple moving average is $0.76 and its 200 day simple moving average is $1.20.

Insider Activity

In other news, major shareholder John P. Szabo, Jr. bought 61,519 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average price of $0.82 per share, with a total value of $50,445.58. Following the transaction, the insider now owns 3,061,519 shares in the company, valued at $2,510,445.58. This represents a 2.05 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alec Davidian sold 36,204 shares of the firm’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 directly owns 839,400 shares of the company’s stock, valued at $604,368. This represents a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 251,727 shares of company stock worth $188,048 in the last 90 days. Corporate insiders own 23.20% of the company’s stock.

Institutional Trading of Wag! Group

A hedge fund recently bought a new stake in Wag! Group stock. Cowen AND Company LLC bought a new position in shares of Wag! Group Co. (NASDAQ:PET) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 45,000 shares of the company’s stock, valued at approximately $72,000. Cowen AND Company LLC owned 0.11% of Wag! Group at the end of the most recent quarter. Institutional investors and hedge funds own 86.16% of the company’s stock.

Wag! Group Company Profile

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.