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

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

Analyst Upgrades and Downgrades

HIMS has been the subject of several research reports. 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 report on Monday, January 6th. Bank of America lowered Hims & Hers Health from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. TD Cowen reiterated a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Morgan Stanley assumed coverage on Hims & Hers Health in a report on Tuesday, December 17th. They set an “overweight” rating and a $42.00 price target on the stock. Finally, Needham & Company LLC lifted their price objective on Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.13.

Insider Activity

In other news, insider Michael Chi sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $22.20, for a total value of $166,500.00. Following the sale, the insider now directly owns 193,980 shares of the company’s stock, valued at approximately $4,306,356. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Soleil Boughton sold 2,339 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $23.16, for a total transaction of $54,171.24. Following the transaction, the insider now directly owns 169,935 shares of the company’s stock, valued at $3,935,694.60. The trade was a 1.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,080,208 shares of company stock valued at $29,106,823. 17.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. grew its position in shares of Hims & Hers Health by 1,100.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after acquiring an additional 1,100 shares during the last quarter. GAMMA Investing LLC boosted its stake in Hims & Hers Health by 2,173.7% during the 4th quarter. GAMMA Investing LLC now owns 2,251 shares of the company’s stock worth $54,000 after purchasing an additional 2,152 shares during the period. Quest Partners LLC grew its position in Hims & Hers Health by 22.6% during the 3rd quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock worth $81,000 after purchasing an additional 807 shares during the last quarter. CWM LLC increased its stake in Hims & Hers Health by 21.4% in the third quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after purchasing an additional 1,054 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Hims & Hers Health by 115.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,560 shares of the company’s stock valued at $110,000 after buying an additional 2,442 shares during the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Price Performance

NYSE HIMS opened at $27.80 on Friday. The firm’s fifty day moving average price is $27.68 and its 200 day moving average price is $21.85. Hims & Hers Health has a 12 month low of $8.14 and a 12 month high of $35.02. The company 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 issued 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. 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 quarter last year, the company posted ($0.04) earnings per share. The business’s quarterly revenue was up 77.1% compared to the same quarter last year. As a group, sell-side 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 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.