The Hain Celestial Group (NASDAQ:HAIN) Trading Down 3.6% – Here’s What Happened

The Hain Celestial Group, Inc. (NASDAQ:HAIN)’s share price was down 3.6% on Monday . The company traded as low as $5.97 and last traded at $5.97. Approximately 72,295 shares changed hands during trading, a decline of 92% from the average daily volume of 856,459 shares. The stock had previously closed at $6.19.

Wall Street Analyst Weigh In

Several analysts have recently commented on HAIN shares. Piper Sandler restated a “neutral” rating and issued a $8.00 target price on shares of The Hain Celestial Group in a research note on Thursday, September 19th. Barclays reduced their price objective on shares of The Hain Celestial Group from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Finally, DA Davidson dropped their target price on The Hain Celestial Group from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.43.

The Hain Celestial Group Stock Performance

The stock’s fifty day simple moving average is $7.50 and its 200-day simple moving average is $7.64. The company has a market capitalization of $485.24 million, a PE ratio of -5.72 and a beta of 0.76. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.76.

The Hain Celestial Group (NASDAQ:HAIN) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $394.60 million for the quarter, compared to analyst estimates of $394.24 million. The Hain Celestial Group had a positive return on equity of 3.13% and a negative net margin of 4.94%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share. On average, research analysts predict that The Hain Celestial Group, Inc. will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Allworth Financial LP lifted its stake in The Hain Celestial Group by 433.5% in the 3rd quarter. Allworth Financial LP now owns 2,982 shares of the company’s stock valued at $26,000 after buying an additional 2,423 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of The Hain Celestial Group by 225.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,954 shares of the company’s stock valued at $43,000 after acquiring an additional 3,432 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of The Hain Celestial Group during the third quarter valued at $87,000. CWM LLC increased its position in The Hain Celestial Group by 14.5% during the 3rd quarter. CWM LLC now owns 10,098 shares of the company’s stock worth $87,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Choreo LLC acquired a new position in The Hain Celestial Group in the 2nd quarter valued at about $71,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

About The Hain Celestial Group

The Hain Celestial Group, Inc manufactures, markets, and sells organic and natural products in United States, United Kingdom, Europe, and internationally. It operates through two segments: North America and International. The company offers infant formula; infant, toddler, and kids' food; plant-based beverages and frozen desserts, such as soy, rice, oat, and spelt; and condiments.