The Hain Celestial Group (NASDAQ:HAIN) Shares Down 3.6% – Time to Sell?

Shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN) were down 3.6% during trading on Monday . The stock traded as low as $5.97 and last traded at $5.97. Approximately 72,295 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 856,459 shares. The stock had previously closed at $6.19.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. DA Davidson reduced their price target on shares of The Hain Celestial Group from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $8.00 price target on shares of The Hain Celestial Group in a report on Thursday, September 19th. Finally, Barclays decreased their price objective on The Hain Celestial Group from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.43.

The Hain Celestial Group Trading Down 6.0 %

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.05 and a current ratio of 2.01. The stock has a fifty day moving average of $7.63 and a 200-day moving average of $7.66. The company has a market cap of $524.93 million, a PE ratio of -6.19 and a beta of 0.76.

The Hain Celestial Group (NASDAQ:HAIN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $394.60 million during the quarter, compared to analysts’ expectations of $394.24 million. The Hain Celestial Group had a positive return on equity of 3.13% and a negative net margin of 4.94%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.04) EPS. Sell-side analysts anticipate that The Hain Celestial Group, Inc. will post 0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC raised its holdings in shares of The Hain Celestial Group by 171.3% in the second quarter. Millennium Management LLC now owns 2,634,718 shares of the company’s stock valued at $18,206,000 after acquiring an additional 1,663,542 shares in the last quarter. Federated Hermes Inc. increased its holdings in The Hain Celestial Group by 224.9% during the second quarter. Federated Hermes Inc. now owns 860,471 shares of the company’s stock valued at $5,946,000 after buying an additional 595,649 shares during the period. AQR Capital Management LLC purchased a new stake in The Hain Celestial Group during the second quarter worth $3,942,000. Hotchkis & Wiley Capital Management LLC boosted its position in The Hain Celestial Group by 54.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,224,590 shares of the company’s stock valued at $10,568,000 after acquiring an additional 434,070 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of The Hain Celestial Group by 257.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 496,842 shares of the company’s stock worth $4,288,000 after buying an additional 357,669 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

About The Hain Celestial Group

The Hain Celestial Group, Inc manufactures, markets, and sells organic and natural products in United States, United Kingdom, Europe, and internationally. It operates through two segments: North America and International. The company offers infant formula; infant, toddler, and kids' food; plant-based beverages and frozen desserts, such as soy, rice, oat, and spelt; and condiments.