Hims & Hers Health (NYSE:HIMS) Shares Gap Down – Should You Sell?

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. TD Cowen reiterated a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their price target on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Bank of America downgraded shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. Finally, Needham & Company LLC assumed coverage on shares of Hims & Hers Health in a research report on Thursday, August 22nd. They set a “buy” rating and a $24.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.80.

Hims & Hers Health Stock Down 8.1 %

The company has a market cap of $5.74 billion, a PE ratio of 59.66 and a beta of 1.25. The firm has a 50 day simple moving average of $25.46 and a 200-day simple moving average of $21.19.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results 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. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The company had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. During the same period last year, the business earned ($0.04) earnings per share. Hims & Hers Health’s quarterly revenue was up 77.1% on a year-over-year basis. As a group, equities analysts anticipate that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Activity at Hims & Hers Health

In related news, insider Michael Chi sold 2,054 shares of the business’s stock in a transaction that occurred 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 directly owns 184,947 shares in the company, valued at approximately $6,206,821.32. The trade was a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Dudum sold 45,767 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $16.33, for a total value of $747,375.11. Following the completion of the sale, the chief executive officer now directly owns 67,015 shares of the company’s stock, valued at approximately $1,094,354.95. This represents a 40.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,143,575 shares of company stock worth $27,724,979 in the last three months. Company insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Several hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its holdings in Hims & Hers Health by 679.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after acquiring an additional 1,603 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of Hims & Hers Health by 5,944.1% in the 2nd quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $72,000 after buying an additional 3,507 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Hims & Hers Health in the 2nd quarter valued at $111,000. CWM LLC raised its stake in Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after acquiring an additional 1,054 shares in the last quarter. Finally, Quarry LP lifted its position in Hims & Hers Health by 91.0% in the third quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after acquiring an additional 2,913 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Hims & Hers Health Company Profile

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.