Hims & Hers Health (NYSE:HIMS) Sees Strong Trading Volume Following Analyst Upgrade

Shares of Hims & Hers Health, Inc. (NYSE:HIMS) saw strong trading volume on Friday after Bank of America raised their price target on the stock from $18.00 to $21.00. Bank of America currently has an underperform rating on the stock. 32,670,542 shares were traded during mid-day trading, an increase of 102% from the previous session’s volume of 16,202,188 shares.The stock last traded at $55.76 and had previously closed at $66.41.

HIMS has been the topic of several other reports. Piper Sandler boosted their price objective on Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Canaccord Genuity Group boosted their price target on Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley lowered Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $42.00 to $60.00 in a report on Tuesday. BTIG Research began coverage on Hims & Hers Health in a research report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Citigroup downgraded Hims & Hers Health from a “neutral” rating to a “sell” rating and upped their target price for the company from $24.00 to $25.00 in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.53.

Insider Buying and Selling at Hims & Hers Health

In other Hims & Hers Health news, COO Melissa Baird sold 85,561 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $31.01, for a total transaction of $2,653,246.61. Following the completion of the sale, the chief operating officer now directly owns 630,986 shares in the company, valued at $19,566,875.86. This represents a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Dudum sold 33,513 shares of the company’s stock in a transaction dated 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 directly owns 33,502 shares of the company’s stock, valued at $1,118,296.76. The trade was a 50.01 % decrease in their position. 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 quarter. Corporate insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. SlateStone Wealth LLC lifted its holdings in Hims & Hers Health by 4.0% during the 4th quarter. SlateStone Wealth LLC now owns 10,640 shares of the company’s stock worth $257,000 after buying an additional 413 shares during the last quarter. Blume Capital Management Inc. boosted its position in shares of Hims & Hers Health by 100.0% in the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after buying an additional 600 shares during the period. Summit Investment Advisors Inc. raised its holdings in shares of Hims & Hers Health by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 19,853 shares of the company’s stock worth $480,000 after acquiring an additional 628 shares in the last quarter. Quest Partners LLC raised its holdings in Hims & Hers Health by 22.6% during the third quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock valued at $81,000 after buying an additional 807 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in Hims & Hers Health by 18.8% during the fourth quarter. Harbour Investments Inc. now owns 5,269 shares of the company’s stock worth $127,000 after buying an additional 833 shares in the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Performance

The firm’s 50-day moving average is $35.05 and its two-hundred day moving average is $25.70. The stock has a market cap of $10.73 billion, a P/E ratio of 111.58 and a beta of 1.35.

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.