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

Hims & Hers Health, Inc. (NYSE:HIMS) saw a large decline in short interest in September. As of September 15th, there was short interest totalling 26,540,000 shares, a decline of 5.3% from the August 31st total of 28,040,000 shares. Based on an average daily trading volume, of 8,750,000 shares, the short-interest ratio is currently 3.0 days. Currently, 16.2% of the shares of the stock are sold short.

Insiders Place Their Bets

In other news, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.47, for a total transaction of $3,110,985.36. Following the transaction, the chief executive officer now directly owns 33,502 shares in the company, valued at approximately $551,777.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.47, for a total transaction of $3,110,985.36. Following the transaction, the chief executive officer now directly owns 33,502 shares in the company, valued at approximately $551,777.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Oluyemi Okupe sold 11,609 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $14.60, for a total value of $169,491.40. Following the transaction, the chief financial officer now owns 181,469 shares in the company, valued at $2,649,447.40. The disclosure for this sale can be found here. In the last three months, insiders sold 542,585 shares of company stock worth $8,751,851. Corporate insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

Several large investors have recently bought and sold shares of HIMS. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Hims & Hers Health by 164.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock worth $10,663,000 after purchasing an additional 328,142 shares during the last quarter. Cim LLC purchased a new position in shares of Hims & Hers Health during the second quarter worth about $1,445,000. Sanctuary Advisors LLC purchased a new position in shares of Hims & Hers Health during the second quarter worth about $415,000. Creative Planning purchased a new position in shares of Hims & Hers Health during the second quarter worth about $443,000. Finally, Scientech Research LLC purchased a new position in shares of Hims & Hers Health during the second quarter worth about $1,474,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Imperial Capital cut Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Piper Sandler reiterated a “neutral” rating and issued a $18.00 price objective on shares of Hims & Hers Health in a report on Tuesday, August 6th. Truist Financial upped their price objective on Hims & Hers Health from $13.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 18th. TD Cowen upped their price objective on Hims & Hers Health from $15.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Hims & Hers Health from $16.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Hims & Hers Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.86.

Hims & Hers Health Trading Up 4.9 %

Hims & Hers Health stock opened at $19.32 on Wednesday. Hims & Hers Health has a twelve month low of $5.65 and a twelve month high of $25.74. The stock’s fifty day simple moving average is $16.82 and its 200-day simple moving average is $17.25. The firm has a market capitalization of $4.15 billion, a P/E ratio of -1,931.50 and a beta of 1.05.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, August 5th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm had revenue of $315.65 million for the quarter, compared to analyst estimates of $302.43 million. Hims & Hers Health had a return on equity of 5.25% and a net margin of 1.70%. Hims & Hers Health’s revenue for the quarter was up 51.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Sell-side analysts predict that Hims & Hers Health will post 0.22 earnings per share for the current year.

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.