Hims & Hers Health (NYSE:HIMS) Stock Price Down 5.9% – Time to Sell?

Hims & Hers Health, Inc. (NYSE:HIMS) shares were down 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 changed hands during trading, a decline of 57% from the average daily volume of 13,390,774 shares. The stock had previously closed at $60.47.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Needham & Company LLC upped their price target on shares of Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped 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 report on Wednesday, November 6th. BTIG Research assumed coverage on Hims & Hers Health in a report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price target on the stock. Citigroup lowered Hims & Hers Health from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $24.00 to $25.00 in a report on Friday, January 10th. Finally, Piper Sandler lifted their target price on Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.53.

Hims & Hers Health Stock Down 3.6 %

The company’s 50-day simple moving average is $33.94 and its 200-day simple moving average is $25.19. The stock has a market cap of $14.48 billion, a price-to-earnings ratio of 150.64 and a beta of 1.35.

Insider Transactions at Hims & Hers Health

In other news, CFO Oluyemi Okupe sold 101,993 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $29.62, for a total value of $3,021,032.66. Following the transaction, the chief financial officer now directly owns 109,392 shares of the company’s stock, valued at approximately $3,240,191.04. This represents a 48.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 2,343 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $29.90, for a total value of $70,055.70. Following the sale, the insider now owns 165,254 shares of the company’s stock, valued at approximately $4,941,094.60. This represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,184,611 shares of company stock valued at $40,338,442 over the last three months. Company insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

A number of hedge funds and other institutional investors have recently made changes to their positions in HIMS. SlateStone Wealth LLC raised its position in Hims & Hers Health by 4.0% during the fourth quarter. SlateStone Wealth LLC now owns 10,640 shares of the company’s stock valued at $257,000 after acquiring an additional 413 shares in the last quarter. Blume Capital Management Inc. increased its stake in shares of Hims & Hers Health by 100.0% during the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 600 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Hims & Hers Health by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 19,853 shares of the company’s stock valued at $480,000 after purchasing an additional 628 shares in the last quarter. Quest Partners LLC lifted its stake in shares of Hims & Hers Health by 22.6% in the 3rd quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock valued at $81,000 after purchasing an additional 807 shares during the last quarter. Finally, Harbour Investments Inc. boosted its holdings in Hims & Hers Health by 18.8% in the fourth quarter. Harbour Investments Inc. now owns 5,269 shares of the company’s stock worth $127,000 after purchasing an additional 833 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.