Hims & Hers Health, Inc. (NYSE:HIMS) Short Interest Up 7.8% in November

Hims & Hers Health, Inc. (NYSE:HIMS) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 42,620,000 shares, an increase of 7.8% from the November 15th total of 39,520,000 shares. Currently, 24.0% of the shares of the company are sold short. Based on an average daily volume of 15,600,000 shares, the days-to-cover ratio is presently 2.7 days.

Insider Buying and Selling

In other news, CEO Andrew Dudum sold 45,767 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 67,015 shares in the company, valued at approximately $1,094,354.95. This represents a 40.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Oluyemi Okupe sold 12,651 shares of Hims & Hers Health stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $16.79, for a total transaction of $212,410.29. Following the sale, the chief financial officer now owns 211,000 shares in the company, valued at approximately $3,542,690. This trade represents a 5.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,064,976 shares of company stock valued at $25,396,895 over the last ninety days. 17.71% of the stock is owned by company insiders.

Institutional Trading of Hims & Hers Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in shares of Hims & Hers Health by 113.1% during the second quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock worth $121,936,000 after acquiring an additional 3,205,108 shares during the period. Wellington Management Group LLP raised its holdings in Hims & Hers Health by 34.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock valued at $63,446,000 after acquiring an additional 883,230 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Hims & Hers Health by 12.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock valued at $79,029,000 after acquiring an additional 482,177 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Hims & Hers Health by 164.1% during the 2nd 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 in the last quarter. Finally, State of Michigan Retirement System increased its position in shares of Hims & Hers Health by 177.8% in the second quarter. State of Michigan Retirement System now owns 500,000 shares of the company’s stock worth $10,095,000 after purchasing an additional 320,000 shares during the period. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 price target (up previously from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. TD Cowen reiterated a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $32.00 to $18.00 in a report on Thursday, November 14th. Canaccord Genuity Group lifted their target price on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Needham & Company LLC assumed coverage on shares of Hims & Hers Health in a research report on Thursday, August 22nd. They set a “buy” rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Hims & Hers Health currently has a consensus rating of “Hold” and a consensus target price of $22.80.

Hims & Hers Health Stock Down 0.4 %

Shares of NYSE:HIMS traded down $0.13 during midday trading on Tuesday, reaching $31.12. 14,642,233 shares of the company were exchanged, compared to its average volume of 9,946,079. The firm has a market cap of $6.80 billion, a PE ratio of 70.09 and a beta of 1.25. Hims & Hers Health has a fifty-two week low of $8.09 and a fifty-two week high of $35.02. The stock has a fifty day simple moving average of $25.02 and a two-hundred day simple moving average of $21.06.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly 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 return on equity of 10.97% and a net margin of 8.19%. The company had revenue of $401.56 million for the quarter, compared to analyst estimates of $382.20 million. During the same period in the previous year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up 77.1% compared to the same quarter last year. As a group, analysts forecast that Hims & Hers Health will post 0.29 earnings per share for the current year.

Hims & Hers Health Company Profile

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.