The Hain Celestial Group (NASDAQ:HAIN) Stock Sees Unusually High Put Option Buying

The Hain Celestial Group, Inc. (NASDAQ:HAIN) was the recipient of some unusual options trading activity on Thursday. Stock traders acquired 1,702 put options on the company. This is an increase of 768% compared to the typical daily volume of 196 put options.

Analyst Ratings Changes

Several research firms have recently commented on HAIN. Weiss Ratings raised shares of The Hain Celestial Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, September 14th. Jefferies Financial Group lowered their target price on shares of The Hain Celestial Group from $1.03 to $0.81 and set a “hold” rating on the stock in a report on Tuesday, July 7th. Wall Street Zen cut shares of The Hain Celestial Group from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. Finally, Barclays cut their price target on The Hain Celestial Group from $0.50 to $0.30 and set an “underweight” rating for the company in a research note on Friday. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, The Hain Celestial Group presently has a consensus rating of “Reduce” and an average price target of $0.90.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in The Hain Celestial Group during the second quarter worth about $42,000. Bank of New York Mellon Corp purchased a new stake in The Hain Celestial Group in the 2nd quarter valued at about $50,000. Bank of America Corp DE purchased a new stake in The Hain Celestial Group in the 2nd quarter valued at about $50,000. Hsbc Holdings PLC bought a new position in shares of The Hain Celestial Group during the 2nd quarter worth approximately $52,000. Finally, SummerHaven Investment Management LLC bought a new position in shares of The Hain Celestial Group during the 3rd quarter worth approximately $54,000. 97.01% of the stock is owned by institutional investors.

The Hain Celestial Group Trading Down 16.3%

The Hain Celestial Group stock traded down $0.05 during trading on Friday, hitting $0.24. 6,361,478 shares of the company were exchanged, compared to its average volume of 1,500,080. The company has a market capitalization of $21.48 million, a P/E ratio of -0.07 and a beta of 0.95. The business’s 50 day moving average is $0.60 and its 200 day moving average is $0.65. The Hain Celestial Group has a 52 week low of $0.20 and a 52 week high of $1.64.

The Hain Celestial Group (NASDAQ:HAIN) last issued its quarterly earnings data on Monday, September 14th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $263.07 million for the quarter, compared to the consensus estimate of $261.24 million. The Hain Celestial Group had a negative net margin of 22.53% and a negative return on equity of 5.45%. Equities analysts expect that The Hain Celestial Group will post 0.01 EPS for the current year.

About The Hain Celestial Group

The Hain Celestial Group, Inc is a consumer products company focused on better-for-you, natural and organic foods, beverages and personal care products. Its portfolio includes pantry staples, snacks, plant-based foods, teas, infant and children’s foods, and personal care products.

The company’s brands have included Celestial Seasonings, Earth’s Best, Terra, Garden of Eatin’, Imagine, Sensible Portions, The Greek Gods, Alba Botanica, Avalon Organics and Jason. Products are sold through grocery stores, mass retailers, club stores, natural-food retailers, e-commerce channels and other outlets.

Founded in 1993 by Irwin Simon, Hain Celestial expanded through brand development and acquisitions, including its combination with Celestial Seasonings in 2000.