Hims & Hers Health (NYSE:HIMS) Trading Down 5.9% – Here’s Why

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price dropped 5.9% during mid-day trading on Tuesday . The stock traded as low as $57.61 and last traded at $56.91. Approximately 5,781,827 shares were traded during trading, a decline of 57% from the average daily volume of 13,390,774 shares. The stock had previously closed at $60.47.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Canaccord Genuity Group boosted their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC raised their price objective on shares of Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, January 6th. TD Cowen reissued a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Finally, Morgan Stanley cut Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $42.00 to $60.00 in a report on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.53.

Hims & Hers Health Trading Down 3.6 %

The firm’s 50 day moving average price is $33.94 and its 200-day moving average price is $25.19. The company has a market cap of $14.48 billion, a P/E ratio of 150.64 and a beta of 1.35.

Insider Buying and Selling at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 4,152 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total value of $251,984.88. Following the sale, the insider now directly owns 157,345 shares in the company, valued at approximately $9,549,268.05. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Dudum sold 33,513 shares of Hims & Hers Health stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.38, for a total transaction of $1,118,663.94. Following the transaction, the chief executive officer now directly owns 33,502 shares in the company, valued at approximately $1,118,296.76. This represents a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,184,611 shares of company stock valued at $40,338,442. 17.71% of the stock is currently owned by insiders.

Institutional Trading of Hims & Hers Health

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in shares of Hims & Hers Health by 21.4% during the third quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after buying an additional 1,054 shares in the last quarter. Creative Planning raised its holdings in shares of Hims & Hers Health by 18.1% in the third quarter. Creative Planning now owns 25,925 shares of the company’s stock valued at $478,000 after purchasing an additional 3,979 shares during the last quarter. Venture Visionary Partners LLC acquired a new stake in shares of Hims & Hers Health in the third quarter valued at approximately $238,000. Lake Street Private Wealth LLC lifted its position in shares of Hims & Hers Health by 80.3% in the third quarter. Lake Street Private Wealth LLC now owns 103,447 shares of the company’s stock worth $1,905,000 after purchasing an additional 46,076 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Hims & Hers Health during the third quarter worth $6,790,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

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.