Hims & Hers Health (NYSE:HIMS) Sees Large Volume Increase – What’s Next?

Hims & Hers Health, Inc. (NYSE:HIMS) shares saw unusually-high trading volume on Friday . Approximately 18,501,877 shares were traded during mid-day trading, an increase of 43% from the previous session’s volume of 12,930,402 shares.The stock last traded at $63.00 and had previously closed at $59.18.

Analyst Upgrades and Downgrades

HIMS has been the topic of several research reports. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Piper Sandler increased their price target on Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Citigroup downgraded Hims & Hers Health from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $24.00 to $25.00 in a research note on Friday, January 10th. Needham & Company LLC increased their target price on Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, BTIG Research assumed coverage on shares of Hims & Hers Health in a report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price target for the company. Two 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.13.

Hims & Hers Health Stock Up 3.2 %

The stock has a market cap of $13.35 billion, a price-to-earnings ratio of 138.21 and a beta of 1.35. The company’s 50-day simple moving average is $31.53 and its 200-day simple moving average is $23.99.

Insider Transactions at Hims & Hers Health

In other news, insider Soleil Boughton sold 268,932 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the sale, the insider now owns 169,803 shares in the company, valued at $4,712,033.25. The trade was a 61.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Chi sold 2,054 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.56, for a total transaction of $68,932.24. Following the completion of the transaction, the insider now directly owns 184,947 shares of the company’s stock, valued at $6,206,821.32. This represents a 1.10 % decrease in their position. 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 three months. 17.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

Hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership grew its holdings in shares of Hims & Hers Health by 192.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock valued at $152,436,000 after acquiring an additional 4,145,305 shares in the last quarter. Vanguard Group Inc. grew its stake in Hims & Hers Health by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock valued at $489,817,000 after purchasing an additional 2,020,722 shares in the last quarter. Yong Rong HK Asset Management Ltd acquired a new position in Hims & Hers Health in the 4th quarter worth about $41,104,000. Renaissance Technologies LLC raised its stake in shares of Hims & Hers Health by 29.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after purchasing an additional 1,562,302 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Hims & Hers Health by 613.9% during the 4th quarter. Invesco Ltd. now owns 1,277,026 shares of the company’s stock worth $30,878,000 after purchasing an additional 1,098,148 shares in the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

About Hims & Hers Health

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.