Hims & Hers Health, Inc. (NYSE:HIMS) Short Interest Up 6.2% in October

Hims & Hers Health, Inc. (NYSE:HIMS) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 33,840,000 shares, an increase of 6.2% from the October 15th total of 31,870,000 shares. Based on an average daily volume of 10,980,000 shares, the days-to-cover ratio is currently 3.1 days. Currently, 19.1% of the shares of the stock are short sold.

Insiders Place Their Bets

In related news, CEO Andrew Dudum sold 188,888 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $14.56, for a total value of $2,750,209.28. Following the transaction, the chief executive officer now owns 33,502 shares of the company’s stock, valued at $487,789.12. This trade represents a 84.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Oluyemi Okupe sold 142,886 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.93, for a total transaction of $4,276,577.98. Following the completion of the transaction, the chief financial officer now directly owns 112,186 shares in the company, valued at $3,357,726.98. This represents a 56.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 996,961 shares of company stock worth $20,256,416 over the last three months. 17.71% of the stock is currently owned by company insiders.

Institutional Trading of Hims & Hers Health

A number of large investors have recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new stake in shares of Hims & Hers Health during the third quarter worth approximately $1,252,000. Geode Capital Management LLC boosted its holdings in Hims & Hers Health by 12.7% in 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. Barclays PLC increased its stake in Hims & Hers Health by 9.7% in the third quarter. Barclays PLC now owns 308,363 shares of the company’s stock valued at $5,680,000 after purchasing an additional 27,231 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in Hims & Hers Health by 312.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 134,018 shares of the company’s stock valued at $2,469,000 after purchasing an additional 101,536 shares during the last quarter. Finally, MML Investors Services LLC purchased a new position in Hims & Hers Health in the third quarter valued at approximately $197,000. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Bank of America cut 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. Imperial Capital cut shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research note on Friday, August 9th. Needham & Company LLC assumed coverage on shares of Hims & Hers Health in a research note on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price for the company. Finally, TD Cowen lifted their target price on shares of Hims & Hers Health from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.71.

Hims & Hers Health Stock Performance

Shares of HIMS stock traded up $1.86 on Tuesday, hitting $22.85. 14,881,520 shares of the stock traded hands, compared to its average volume of 9,347,936. The firm’s 50-day moving average price is $19.90 and its two-hundred day moving average price is $18.98. The stock has a market capitalization of $4.99 billion, a PE ratio of 50.46 and a beta of 1.06. Hims & Hers Health has a twelve month low of $7.50 and a twelve month high of $30.44.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $382.20 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The business’s revenue for the quarter was up 77.1% compared to the same quarter last year. On average, equities research analysts anticipate that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Hims & Hers Health Company Profile

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.