Keep Your Eyes on Stock News: PetIQ (NASDAQ:PETQ)

PetIQ (NASDAQ:PETQ) stock identified change of 10.95% away from 52-week low price and recently located move of -50.65% off 52-week high price. It has market worth of $587.57M. PETQ stock has been recorded -38.43% away from 50 day moving average and -37.23% away from 200 day moving average. Moving closer, we can see that shares have been trading -32.74% off 20-day moving average.

On March 20, 2020, PetIQ (NASDAQ:PETQ) a leading pet medication and wellness company,  reported that out of an abundance of caution for its employees and customers in response to COVID-19 all veterinary community clinics and wellness centers were temporarily close effective Friday, March 20, 2020. The Company is continuously monitoring this situation and will reopen its veterinary service locations as soon as practical.  PetIQ’s veterinarian products business continues to perform well with full availability of its pet health and wellness items at its retail and e-commerce partners.

The coronavirus has created an unprecedented situation that requires PetIQ to take action, commented Cord Christensen, PetIQ’s Chairman and Chief Executive Officer. We are prioritizing the health and safety of our veterinarians, associates, customers, and retail partners by temporarily closing our veterinary community clinics and wellness centers to reduce the risk of spreading the virus further.  For the immediate future, those employees displaced during this time will be paid to help them support their needs.  PetIQ is fortunate that its 100% USA-based manufacturing and distribution centers supporting its veterinarian products business are performing in-line with our budgeted forecasts.  Pet parents can provide their pets with preventive wellness with access to our over 2,000 health and wellness items through our retail and e-commerce partners, although near-term they will experience a gap in our veterinary wellness services.

The Company has also proactively drawn against its Revolving Credit Facility as a precautionary measure to provide financial flexibility given the uncertainties in the marketplace as a result of COVID-19.  With this draw the Company has liquidity in excess of $50 million with no meaningful maturities due until July of 2024.

The Healthcare sector company, PetIQ noticed change of -15.58% to $17.93 along volume of 512392 shares in recent session compared to an average volume of 307.97K shares. The stock observed return of -17.83% in 5 days trading activity. The stock was at -48.68% over one month performance. PETQ’s shares are at -28.19% for the quarter and driving a -42.07% return over the course of the past year and is now at -28.42% since this point in 2018.

The average volatility for the week at 21.08% and for month was at 10.73%. There are 32.77M shares outstanding and 23.16M shares are floated in market.

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