Short Interest in Hims & Hers Health, Inc. (NYSE:HIMS) Increases By 21.3%

Hims & Hers Health, Inc. (NYSE:HIMS) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 52,120,000 shares, an increase of 21.3% from the December 31st total of 42,970,000 shares. Based on an average trading volume of 16,430,000 shares, the short-interest ratio is presently 3.2 days. Approximately 29.4% of the shares of the company are sold short.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, insider Patrick Harrison Carroll sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $22.07, for a total value of $331,050.00. Following the sale, the insider now owns 196,941 shares of the company’s stock, valued at $4,346,487.87. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Dudum sold 188,888 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $20.88, for a total transaction of $3,943,981.44. Following the completion of the sale, the chief executive officer now directly owns 67,015 shares in the company, valued at $1,399,273.20. This trade represents a 73.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,256,067 shares of company stock valued at $34,459,485 over the last ninety days. Insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Main Management ETF Advisors LLC acquired a new position in Hims & Hers Health during the third quarter worth about $672,000. Robeco Institutional Asset Management B.V. bought a new stake in Hims & Hers Health in the third quarter valued at approximately $604,000. Carnegie Investment Counsel bought a new position in shares of Hims & Hers Health during the 3rd quarter worth approximately $5,531,000. Royce & Associates LP boosted its holdings in shares of Hims & Hers Health by 17.0% during the 3rd quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock worth $6,281,000 after buying an additional 49,500 shares in the last quarter. Finally, Versor Investments LP bought a new position in shares of Hims & Hers Health during the 3rd quarter worth approximately $634,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Cowen reissued a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Morgan Stanley began coverage on shares of Hims & Hers Health in a research note on Tuesday, December 17th. They set an “overweight” rating and a $42.00 price objective on the stock. BTIG Research assumed coverage on shares of Hims & Hers Health in a research note on Tuesday, January 7th. They set a “buy” rating and a $35.00 price objective on the stock. Citigroup lowered shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and lifted their price target for the company from $24.00 to $25.00 in a report on Friday, January 10th. Finally, Piper Sandler boosted their target price on shares of Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.13.

Hims & Hers Health Stock Performance

Shares of HIMS stock opened at $37.33 on Friday. The company has a market capitalization of $8.16 billion, a P/E ratio of 84.85 and a beta of 1.31. The company’s 50 day moving average price is $29.20 and its two-hundred day moving average price is $22.57. Hims & Hers Health has a 52 week low of $8.51 and a 52 week high of $37.96.

Hims & Hers Health (NYSE:HIMS) last released its 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 net margin of 8.19% and a return on equity of 10.97%. The business 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. The firm’s revenue was up 77.1% on a year-over-year basis. Analysts forecast that Hims & Hers Health will post 0.29 earnings per share for the current year.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.