Hims & Hers Health (NYSE:HIMS) Sees Unusually-High Trading Volume – Here’s Why

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) saw unusually-high trading volume on Friday . Approximately 18,501,877 shares changed hands during mid-day trading, an increase of 43% from the previous session’s volume of 12,930,402 shares.The stock last traded at $63.00 and had previously closed at $59.18.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HIMS shares. 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 objective for the company. Canaccord Genuity Group upped their price objective 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 stock a “neutral” rating in a report on Monday, January 6th. Needham & Company LLC upped their price target on shares of Hims & Hers Health from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $25.13.

Hims & Hers Health Trading Up 2.1 %

The company has a market cap of $13.20 billion, a P/E ratio of 137.31 and a beta of 1.35. The company has a 50 day moving average price of $32.06 and a 200-day moving average price of $24.28.

Insider Buying and Selling at Hims & Hers Health

In related news, insider Michael Chi sold 7,259 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.28, for a total transaction of $314,169.52. Following the sale, the insider now owns 193,601 shares of the company’s stock, valued at $8,379,051.28. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Melissa Baird sold 67,687 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $44.71, for a total value of $3,026,285.77. Following the completion of the transaction, the chief operating officer now directly owns 706,872 shares of the company’s stock, valued at approximately $31,604,247.12. The trade was a 8.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,554 shares of company stock worth $33,865,763 over the last 90 days. Insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

A number of hedge funds have recently made changes to their positions in HIMS. Main Management ETF Advisors LLC bought a new position in Hims & Hers Health in the 3rd quarter valued at approximately $672,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Hims & Hers Health during the third quarter valued at $604,000. Royce & Associates LP lifted its holdings in shares of Hims & Hers Health by 17.0% during the third quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock worth $6,281,000 after purchasing an additional 49,500 shares during the period. Versor Investments LP bought a new stake in shares of Hims & Hers Health in the third quarter worth $634,000. Finally, International Assets Investment Management LLC acquired a new stake in Hims & Hers Health in the third quarter valued at $6,790,000. 63.52% of the stock is owned by institutional investors and hedge funds.

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.