Hims & Hers Health (NYSE:HIMS) Trading Up 15.6% – Here’s What Happened

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) traded up 15.6% during mid-day trading on Thursday . The stock traded as high as $52.98 and last traded at $53.55. 6,673,221 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 11,526,705 shares. The stock had previously closed at $46.34.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley assumed coverage on Hims & Hers Health in a report on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 price objective on the stock. Citigroup cut Hims & Hers Health from a “neutral” rating to a “sell” rating and lifted their price objective for the stock from $24.00 to $25.00 in a report on Friday, January 10th. Needham & Company LLC lifted their price objective on 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 restated a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Finally, Piper Sandler boosted their target price on Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.13.

Hims & Hers Health Trading Up 18.6 %

The stock’s 50 day moving average price is $30.98 and its two-hundred day moving average price is $23.74. The firm has a market capitalization of $12.01 billion, a PE ratio of 124.52 and a beta of 1.35.

Insider Transactions at Hims & Hers Health

In other news, 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 value of $1,118,663.94. Following the completion of the sale, the chief executive officer now owns 33,502 shares of the company’s stock, valued at $1,118,296.76. The trade was a 50.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Soleil Boughton sold 268,932 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $27.75, for a total value of $7,462,863.00. Following the completion of the transaction, the insider now owns 169,803 shares of the company’s stock, valued at $4,712,033.25. The trade was a 61.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,043,867 shares of company stock valued at $30,839,478 in the last ninety days. Corporate insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

A number of institutional investors have recently added to or reduced their stakes in the business. Creative Planning purchased a new stake in Hims & Hers Health during the 2nd quarter worth $443,000. Sanctuary Advisors LLC bought a new stake in shares of Hims & Hers Health in the 2nd quarter worth about $415,000. CWM LLC increased its position in shares of Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after purchasing an additional 1,054 shares during the last quarter. nVerses Capital LLC increased its position in shares of Hims & Hers Health by 31.8% in the 3rd quarter. nVerses Capital LLC now owns 14,100 shares of the company’s stock worth $260,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Cadent Capital Advisors LLC bought a new stake in shares of Hims & Hers Health in the 3rd quarter worth about $1,310,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.