The Hain Celestial Group, Inc. (NASDAQ:HAIN) Sees Significant Increase in Short Interest

The Hain Celestial Group, Inc. (NASDAQ:HAIN) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 5,990,000 shares, an increase of 13.2% from the September 30th total of 5,290,000 shares. Approximately 6.7% of the shares of the stock are short sold. Based on an average daily volume of 1,230,000 shares, the short-interest ratio is presently 4.9 days.

The Hain Celestial Group Stock Down 0.2 %

Shares of HAIN traded down $0.02 during mid-day trading on Thursday, reaching $8.73. The company had a trading volume of 709,385 shares, compared to its average volume of 1,175,045. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.01 and a current ratio of 1.98. The firm has a 50-day moving average price of $8.25 and a 200 day moving average price of $7.44. The Hain Celestial Group has a 52 week low of $5.68 and a 52 week high of $12.49. The company has a market capitalization of $784.39 million, a price-to-earnings ratio of -10.50 and a beta of 0.75.

The Hain Celestial Group (NASDAQ:HAIN) last issued its quarterly earnings results on Tuesday, August 27th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. The firm had revenue of $419.00 million for the quarter, compared to analysts’ expectations of $417.99 million. The Hain Celestial Group had a positive return on equity of 3.10% and a negative net margin of 4.32%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. On average, sell-side analysts forecast that The Hain Celestial Group will post 0.48 EPS for the current year.

Insiders Place Their Bets

In other news, insider Chad D. Marquardt purchased 5,300 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $8.32 per share, with a total value of $44,096.00. Following the completion of the purchase, the insider now directly owns 15,300 shares in the company, valued at approximately $127,296. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On The Hain Celestial Group

Several hedge funds and other institutional investors have recently modified their holdings of HAIN. GSA Capital Partners LLP purchased a new stake in shares of The Hain Celestial Group in the 1st quarter worth $1,937,000. Blair William & Co. IL increased its stake in shares of The Hain Celestial Group by 418.3% in the 1st quarter. Blair William & Co. IL now owns 366,948 shares of the company’s stock worth $2,884,000 after purchasing an additional 296,150 shares in the last quarter. Deerfield Management Company L.P. Series C increased its stake in shares of The Hain Celestial Group by 391.6% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 124,589 shares of the company’s stock worth $861,000 after purchasing an additional 99,246 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of The Hain Celestial Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,942,729 shares of the company’s stock worth $86,010,000 after purchasing an additional 84,689 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of The Hain Celestial Group by 12.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 730,854 shares of the company’s stock worth $5,050,000 after purchasing an additional 79,000 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HAIN shares. Stifel Nicolaus boosted their price target on The Hain Celestial Group from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Barclays boosted their price target on The Hain Celestial Group from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. DA Davidson reiterated a “neutral” rating and set a $8.00 target price on shares of The Hain Celestial Group in a report on Wednesday, August 28th. Finally, Piper Sandler reiterated a “neutral” rating and set a $8.00 target price on shares of The Hain Celestial Group in a report on Thursday, September 19th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.57.

About The Hain Celestial Group

The Hain Celestial Group, Inc manufactures, markets, and sells organic and natural products in United States, United Kingdom, Europe, and internationally. It operates through two segments: North America and International. The company offers infant formula; infant, toddler, and kids' food; plant-based beverages and frozen desserts, such as soy, rice, oat, and spelt; and condiments.