Short Interest in Hims & Hers Health, Inc. (NYSE:HIMS) Rises By 6.2%

Hims & Hers Health, Inc. (NYSE:HIMS) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 33,840,000 shares, an increase of 6.2% from the October 15th total of 31,870,000 shares. Currently, 19.1% of the shares of the company are sold short. Based on an average daily volume of 10,980,000 shares, the days-to-cover ratio is presently 3.1 days.

Analysts Set New Price Targets

A number of brokerages have commented on HIMS. Piper Sandler restated a “neutral” rating and set a $21.00 price target (up previously from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Canaccord Genuity Group boosted their price target on Hims & Hers Health from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Imperial Capital cut Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. TD Cowen lifted their price objective on Hims & Hers Health from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Needham & Company LLC started coverage on shares of Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.71.

Hims & Hers Health Trading Up 8.7 %

Shares of HIMS traded up $1.69 during mid-day trading on Monday, hitting $21.01. 23,572,789 shares of the company traded hands, compared to its average volume of 9,322,468. The business has a 50-day moving average of $19.90 and a 200 day moving average of $18.98. Hims & Hers Health has a one year low of $7.50 and a one year high of $30.44. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 47.75 and a beta of 1.06.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The company had revenue of $401.56 million during the quarter, compared to the consensus estimate of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The firm’s quarterly revenue was up 77.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) earnings per share. As a group, analysts anticipate that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.56, for a total value of $2,750,209.28. Following the sale, the chief executive officer now owns 33,502 shares of the company’s stock, valued at $487,789.12. The trade was a 84.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 2,345 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.65, for a total transaction of $34,354.25. Following the completion of the transaction, the insider now owns 159,796 shares of the company’s stock, valued at approximately $2,341,011.40. This represents a 1.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 996,961 shares of company stock worth $20,256,416. 17.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Quest Partners LLC raised its stake in shares of Hims & Hers Health by 22.6% during the third quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock worth $81,000 after buying an additional 807 shares during the last quarter. CWM LLC grew its holdings in Hims & Hers Health by 21.4% during the 3rd quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after acquiring an additional 1,054 shares during the period. Arizona State Retirement System raised its position in shares of Hims & Hers Health by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 40,344 shares of the company’s stock valued at $815,000 after acquiring an additional 1,173 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Hims & Hers Health by 6.6% in the 2nd quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock valued at $393,000 after purchasing an additional 1,212 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Hims & Hers Health by 679.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock valued at $37,000 after purchasing an additional 1,603 shares during the period. 63.52% of the stock is currently owned by institutional investors and hedge funds.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.