Hims & Hers Health (NYSE:HIMS) Shares Down 11.6%

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) dropped 11.6% during trading on Thursday . The company traded as low as $18.80 and last traded at $19.06. Approximately 14,099,057 shares traded hands during trading, an increase of 93% from the average daily volume of 7,294,340 shares. The stock had previously closed at $21.56.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HIMS. Citigroup lowered shares of Hims & Hers Health from a “buy” rating to a “neutral” rating and upped their price target for the stock from $16.00 to $20.00 in a research note on Wednesday, May 22nd. Seaport Res Ptn reaffirmed a “buy” rating on shares of Hims & Hers Health in a research note on Friday, April 26th. Piper Sandler lifted their price target on Hims & Hers Health from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Jefferies Financial Group raised their target price on Hims & Hers Health from $14.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Hims & Hers Health from $14.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Hims & Hers Health Price Performance

The firm’s fifty day moving average is $17.59 and its 200 day moving average is $13.48. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of -2,016.00 and a beta of 1.08.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. Hims & Hers Health had a negative return on equity of 0.70% and a negative net margin of 0.24%. The business had revenue of $278.20 million during the quarter, compared to analyst estimates of $270.37 million. During the same period last year, the company earned ($0.05) earnings per share. Hims & Hers Health’s quarterly revenue was up 45.8% compared to the same quarter last year. Equities research analysts forecast that Hims & Hers Health, Inc. will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Oluyemi Okupe sold 11,546 shares of Hims & Hers Health stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $22.21, for a total value of $256,436.66. Following the completion of the sale, the chief financial officer now owns 177,449 shares of the company’s stock, valued at approximately $3,941,142.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Oluyemi Okupe sold 11,546 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $22.21, for a total transaction of $256,436.66. Following the transaction, the chief financial officer now owns 177,449 shares of the company’s stock, valued at approximately $3,941,142.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Melissa Baird sold 11,750 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $12.08, for a total value of $141,940.00. Following the completion of the sale, the chief operating officer now owns 538,932 shares of the company’s stock, valued at $6,510,298.56. The disclosure for this sale can be found here. Insiders sold 962,791 shares of company stock valued at $16,930,725 over the last ninety days. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Hims & Hers Health by 23.0% during the 4th quarter. Victory Capital Management Inc. now owns 18,348 shares of the company’s stock worth $163,000 after purchasing an additional 3,429 shares during the last quarter. Graham Capital Management L.P. boosted its position in shares of Hims & Hers Health by 39.4% in the third quarter. Graham Capital Management L.P. now owns 340,338 shares of the company’s stock valued at $2,141,000 after acquiring an additional 96,277 shares during the period. Forerunner Ventures Management LLC bought a new position in Hims & Hers Health during the fourth quarter worth $86,836,000. Vanguard Group Inc. raised its stake in Hims & Hers Health by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 14,126,744 shares of the company’s stock valued at $88,857,000 after purchasing an additional 428,671 shares during the last quarter. Finally, Bridgefront Capital LLC boosted its holdings in Hims & Hers Health by 176.3% in the 4th quarter. Bridgefront Capital LLC now owns 39,622 shares of the company’s stock valued at $353,000 after purchasing an additional 25,284 shares during the period. 63.52% of the stock is currently owned by institutional investors and hedge funds.

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.