Hims & Hers Health, Inc. (NYSE:HIMS) Short Interest Update

Hims & Hers Health, Inc. (NYSE:HIMS) saw a large increase in short interest in 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. Approximately 24.0% of the shares of the stock are short sold. Based on an average trading volume of 15,600,000 shares, the days-to-cover ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler reissued 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. Canaccord Genuity Group raised their price target on shares of Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. 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 price objective for the company. Bank of America downgraded shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Finally, Morgan Stanley initiated coverage on shares of Hims & Hers Health in a research report on Tuesday. They set an “overweight” rating and a $42.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.80.

Hims & Hers Health Price Performance

Shares of NYSE:HIMS traded down $0.13 during trading on Tuesday, reaching $31.12. 14,605,075 shares of the stock were exchanged, compared to its average volume of 9,930,258. The stock has a fifty day moving average of $25.02 and a two-hundred day moving average of $21.06. Hims & Hers Health has a 1-year low of $8.09 and a 1-year high of $35.02. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 70.09 and a beta of 1.25.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company had revenue of $401.56 million during the quarter, compared to the consensus estimate of $382.20 million. During the same period in the previous year, the firm posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 77.1% on a year-over-year basis. Sell-side analysts forecast that Hims & Hers Health will post 0.29 EPS for the current year.

Insider Buying and Selling

In other news, insider Soleil Boughton sold 2,339 shares of Hims & Hers Health stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $20.41, for a total transaction of $47,738.99. Following the transaction, the insider now owns 172,274 shares in the company, valued at approximately $3,516,112.34. The trade was a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Chi sold 2,054 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.56, for a total value of $68,932.24. Following the completion of the sale, the insider now owns 184,947 shares of the company’s stock, valued at $6,206,821.32. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,064,976 shares of company stock worth $25,396,895 in the last 90 days. Insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HIMS. Renaissance Technologies LLC raised its position in Hims & Hers Health by 113.1% in the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after buying an additional 3,205,108 shares during the last quarter. State Street Corp raised its holdings in shares of Hims & Hers Health by 4.7% in the third quarter. State Street Corp now owns 4,626,543 shares of the company’s stock valued at $85,221,000 after purchasing an additional 206,078 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Hims & Hers Health by 12.7% during the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock valued at $79,029,000 after purchasing an additional 482,177 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Hims & Hers Health by 34.5% during the third quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock valued at $63,446,000 after purchasing an additional 883,230 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Hims & Hers Health by 15.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,667,422 shares of the company’s stock worth $30,714,000 after purchasing an additional 218,566 shares during the last quarter. Institutional investors own 63.52% of the company’s stock.

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.