Hims & Hers Health (NYSE:HIMS) Shares Gap Down – Time to Sell?

Hims & Hers Health, Inc. (NYSE:HIMS) gapped down before the market opened on Thursday . The stock had previously closed at $28.55, but opened at $26.04. Hims & Hers Health shares last traded at $27.26, with a volume of 8,769,537 shares traded.

Analysts Set New Price Targets

A number of research firms recently commented on HIMS. Canaccord Genuity Group upped their price objective on shares of Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft increased their price target on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Morgan Stanley began coverage on Hims & Hers Health in a report on Tuesday. They set an “overweight” rating and a $42.00 price objective on the stock. Piper Sandler reissued a “neutral” rating and set a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Finally, Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and cut their price target for the company from $32.00 to $18.00 in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.80.

Hims & Hers Health Trading Down 0.6 %

The business has a 50 day moving average of $25.78 and a two-hundred day moving average of $21.27. The firm has a market cap of $5.72 billion, a P/E ratio of 59.55 and a beta of 1.25.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.26. The company had revenue of $401.56 million for the quarter, compared to analyst estimates of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company’s revenue was up 77.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) earnings per share. On average, sell-side analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insiders Place Their Bets

In other news, insider Michael Chi sold 2,054 shares of Hims & Hers Health stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.56, for a total transaction of $68,932.24. Following the completion of the sale, the insider now owns 184,947 shares of the company’s stock, valued at approximately $6,206,821.32. This trade represents a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Oluyemi Okupe sold 9,868 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $19.96, for a total transaction of $196,965.28. Following the completion of the sale, the chief financial officer now directly owns 195,988 shares of the company’s stock, valued at approximately $3,911,920.48. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,085,157 shares of company stock worth $26,765,193 over the last three months. Insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its position in Hims & Hers Health by 679.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after buying an additional 1,603 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Hims & Hers Health by 67.5% in the second quarter. Bank of New York Mellon Corp now owns 678,602 shares of the company’s stock worth $13,701,000 after purchasing an additional 273,473 shares during the period. State of Michigan Retirement System increased its position in shares of Hims & Hers Health by 177.8% in the second quarter. State of Michigan Retirement System now owns 500,000 shares of the company’s stock worth $10,095,000 after purchasing an additional 320,000 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Hims & Hers Health by 322.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 52,312 shares of the company’s stock valued at $1,056,000 after purchasing an additional 39,943 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Hims & Hers Health by 33.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,830 shares of the company’s stock worth $562,000 after purchasing an additional 6,912 shares during the period. 63.52% of the stock is owned by institutional investors.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.