NEW YORK, NY / ACCESSWIRE / July 10, 2018 / PetMed Express shares were in the red yesterday after a Craig-Hallum analyst lowered his rating on the stock as well as his price target citing competition from Chewy.com's Chew Pharmacy. Shares of SemiLEDS were gaining big, closing the day up 40% as traders gear up for the company's earnings report scheduled for Wednesday.
RDI Initiates Coverage on:
PetMed Express, Inc.
PetMed Express, Inc. shares were in the red on Monday, closing the day down 12.53%. The stock traded nearly 2 million shares compared to an average trading volume of just under 600,000 shares. The company, which is an online pet pharmacy based in the United State, saw its shares drop after an analyst downgrade. Kevin Ellich, an analyst with Craig-Hallum, downgraded shares from "hold" to "sell" and also lowered his price target from $38 to $32. With shares closing at $42.62 this past Friday, the new price target is an almost 25% discount in comparison. The analyst cited that Chewy.com's Chew Pharmacy is competitive with the company from a price standpoint. PetMed Express had reported its last quarterly earnings report on May 7th and revealed $0.50 earnings per share. Analysts had been expecting 47 cents. Revenue of $67.30 million dragged behind the $68.43 million that had been expected.
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SemiLEDs Corporation shares closed up approximately 40% yesterday on high volume compared to usual. It was last week that a press release reported that the company would be reporting results for the 2018 fiscal third quarter ended May 31, 2018 and outlook for the fiscal fourth quarter after market close on Wednesday, July 11, 2018. The company, which develops, manufactures, and sells light emitting diode (LED) chips and LED components in the United States, Taiwan, the Netherlands, France, China, Germany, Hong Kong, and internationally, announced its last earnings on April 12th. It reported earnings per share of ($0.32) and revenue of $1.54 million. The company had a negative return on equity of 45.07% and a negative net margin of 45.98%.
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