Short Interest in Freshpet, Inc. (NASDAQ:FRPT) Expands By 6.6%

Freshpet, Inc. (NASDAQ:FRPTGet Rating) saw a large growth in short interest in December. As of December 30th, there was short interest totalling 5,140,000 shares, a growth of 6.6% from the December 15th total of 4,820,000 shares. Based on an average trading volume of 623,000 shares, the days-to-cover ratio is presently 8.3 days.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Oppenheimer lifted their price target on shares of Freshpet from $65.00 to $80.00 and gave the company a “top pick” rating in a research report on Tuesday, November 8th. Citigroup raised shares of Freshpet from a “sell” rating to a “neutral” rating and lifted their price target for the company from $32.00 to $66.00 in a research report on Thursday, November 3rd. Cowen reduced their price target on shares of Freshpet from $97.00 to $82.00 in a research report on Wednesday, November 2nd. UBS Group initiated coverage on shares of Freshpet in a research report on Friday, September 30th. They issued a “buy” rating and a $67.00 price target for the company. Finally, Cowen cut their price objective on shares of Freshpet from $82.00 to $80.00 in a report on Friday, January 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.64.

Institutional Investors Weigh In On Freshpet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Freshpet by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,327,109 shares of the company’s stock valued at $216,745,000 after acquiring an additional 107,824 shares during the period. Champlain Investment Partners LLC raised its stake in Freshpet by 56.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 3,670,870 shares of the company’s stock valued at $190,481,000 after acquiring an additional 1,322,810 shares during the period. Wasatch Advisors Inc. raised its stake in Freshpet by 5.2% in the 1st quarter. Wasatch Advisors Inc. now owns 3,479,089 shares of the company’s stock valued at $357,094,000 after acquiring an additional 170,766 shares during the period. Armistice Capital LLC raised its stake in Freshpet by 242.0% in the 3rd quarter. Armistice Capital LLC now owns 2,736,000 shares of the company’s stock valued at $137,046,000 after acquiring an additional 1,936,000 shares during the period. Finally, FMR LLC raised its stake in Freshpet by 214.1% in the 2nd quarter. FMR LLC now owns 1,865,620 shares of the company’s stock valued at $96,807,000 after acquiring an additional 1,271,638 shares during the period.

Freshpet Stock Performance

Shares of NASDAQ:FRPT opened at $61.26 on Wednesday. The company’s 50-day moving average is $58.53 and its 200 day moving average is $53.89. The company has a market capitalization of $2.94 billion, a P/E ratio of -42.25 and a beta of 0.90. Freshpet has a fifty-two week low of $36.02 and a fifty-two week high of $118.77.

Freshpet (NASDAQ:FRPTGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.16). The company had revenue of $151.33 million during the quarter, compared to analysts’ expectations of $147.82 million. Freshpet had a negative return on equity of 7.55% and a negative net margin of 12.07%. As a group, research analysts predict that Freshpet will post -1.31 earnings per share for the current year.

About Freshpet

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Freshpet, Inc is engaged in the manufacturing, marketing, and distribution of pet food and pet treats for dogs and cats. The firm foods are blends of fresh meats, vegetables and fruits farmed locally and made at Freshpet kitchens. Its products include Deli Fresh Grain Free Chicken Recipe for Dogs, Joy Turkey and Apple Bites Treats, Nature’s Fresh Grain Free Chicken Recipe for Cats, and Vital Grain Free Chicken and Ocean Whitefish Recipe for Cats.

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