Hims & Hers Health Sees Unusually High Options Volume (NYSE:HIMS)

Hims & Hers Health, Inc. (NYSE:HIMS) was the recipient of some unusual options trading activity on Monday. Investors acquired 67,660 call options on the company. This is an increase of approximately 52% compared to the typical daily volume of 44,492 call options.

Hims & Hers Health Stock Up 16.3 %

Shares of NYSE HIMS traded up $4.13 during midday trading on Monday, reaching $29.46. 18,890,694 shares of the company’s stock traded hands, compared to its average volume of 9,554,153. The stock’s 50 day simple moving average is $20.55 and its 200-day simple moving average is $19.31. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 66.64 and a beta of 1.06. Hims & Hers Health has a one year low of $8.09 and a one year high of $30.44.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Hims & Hers Health’s revenue for the quarter was up 77.1% compared to the same quarter last year. Equities analysts predict that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HIMS. Canaccord Genuity Group increased their price target on shares of Hims & Hers Health from $24.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Piper Sandler reiterated a “neutral” rating and issued a $21.00 price objective (up previously from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Imperial Capital lowered shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Needham & Company LLC assumed coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.71.

Insider Activity

In other Hims & Hers Health news, Director Christiane Pendarvis sold 7,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $15.15, for a total value of $106,050.00. Following the completion of the transaction, the director now owns 23,917 shares in the company, valued at approximately $362,342.55. This represents a 22.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Oluyemi Okupe sold 269,739 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $20.31, for a total transaction of $5,478,399.09. Following the sale, the chief financial officer now owns 145,763 shares in the company, valued at approximately $2,960,446.53. This trade represents a 64.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,056,183 shares of company stock valued at $21,501,682. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

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

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.