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

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

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 268,932 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the transaction, the insider now owns 169,803 shares of the company’s stock, valued at approximately $4,712,033.25. This trade represents a 61.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Chi sold 2,054 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were 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 represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,080,208 shares of company stock worth $29,106,823 over the last three months. 17.71% of the stock is owned by corporate insiders.

Institutional Trading of Hims & Hers Health

Several institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC purchased a new position in shares of Hims & Hers Health during the second quarter worth $479,000. Victory Capital Management Inc. grew its position in Hims & Hers Health by 6.6% during the 2nd quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock worth $393,000 after purchasing an additional 1,212 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in shares of Hims & Hers Health during the 2nd quarter valued at about $1,918,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Hims & Hers Health in the 2nd quarter valued at about $143,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Hims & Hers Health in the second quarter worth about $332,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HIMS. Canaccord Genuity Group lifted their price target on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Piper Sandler lifted their target price on Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Morgan Stanley began coverage on shares of Hims & Hers Health in a research report on Tuesday, December 17th. They set an “overweight” rating and a $42.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, Citigroup lowered shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $24.00 to $25.00 in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.13.

Hims & Hers Health Price Performance

Shares of HIMS stock opened at $27.80 on Friday. The business has a fifty day moving average of $27.68 and a 200 day moving average of $21.85. Hims & Hers Health has a 1 year low of $8.14 and a 1 year high of $35.02. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 63.19 and a beta of 1.31.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.26. The firm had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same period last year, the business posted ($0.04) earnings per share. As a group, equities research analysts expect 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.