Hims & Hers Health, Inc. (NYSE:HIMS) Sees Large Increase in Short Interest

Hims & Hers Health, Inc. (NYSE:HIMS) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 39,520,000 shares, a growth of 16.8% from the October 31st total of 33,840,000 shares. Based on an average trading volume of 14,510,000 shares, the days-to-cover ratio is presently 2.7 days. Approximately 22.3% of the company’s shares are short sold.

Hims & Hers Health Trading Up 4.5 %

Shares of HIMS stock traded up $1.38 during trading on Tuesday, reaching $32.23. 13,963,200 shares of the company’s stock traded hands, compared to its average volume of 9,851,818. Hims & Hers Health has a 1 year low of $8.09 and a 1 year high of $35.02. The company has a market capitalization of $7.04 billion, a P/E ratio of 73.21 and a beta of 1.25. The firm’s 50-day moving average is $22.30 and its 200 day moving average is $20.06.

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

Analysts Set New Price Targets

HIMS has been the subject of a number of analyst reports. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $32.00 to $18.00 in a report on Thursday, November 14th. Canaccord Genuity Group raised their target price on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a report on Monday. Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.43.

Insider Buying and Selling at Hims & Hers Health

In other Hims & Hers Health news, insider Michael Chi sold 2,054 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.56, for a total value of $68,932.24. Following the transaction, the insider now owns 184,947 shares in the company, valued at approximately $6,206,821.32. This represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Dudum sold 45,767 shares of the firm’s 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 $1,094,354.95. This trade represents a 40.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 986,244 shares of company stock valued at $22,720,262. 17.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

A number of institutional investors and hedge funds have recently modified their holdings of HIMS. Price T Rowe Associates Inc. MD grew its holdings in shares of Hims & Hers Health by 239.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 168,427 shares of the company’s stock worth $2,606,000 after purchasing an additional 118,848 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Hims & Hers Health during the 1st quarter worth $396,000. Gunderson Capital Management Inc. purchased a new position in Hims & Hers Health in the second quarter worth $1,836,000. QRG Capital Management Inc. bought a new position in Hims & Hers Health in the second quarter valued at $3,149,000. Finally, SG Americas Securities LLC purchased a new stake in Hims & Hers Health during the second quarter valued at about $2,223,000. 63.52% of the stock is owned by hedge funds and other 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.