Hims & Hers Health, Inc. (NYSE:HIMS) Sees Large Decrease in Short Interest

Hims & Hers Health, Inc. (NYSE:HIMS) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 17,000,000 shares, a decrease of 19.7% from the May 31st total of 21,160,000 shares. Based on an average daily volume of 9,370,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 11.3% of the shares of the company are short sold.

Insider Activity

In other news, insider Michael Chi sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $24.50, for a total transaction of $183,750.00. Following the completion of the transaction, the insider now directly owns 185,326 shares of the company’s stock, valued at $4,540,487. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hims & Hers Health news, COO Melissa Baird sold 11,751 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $14.58, for a total value of $171,329.58. Following the completion of the sale, the chief operating officer now directly owns 538,932 shares in the company, valued at $7,857,628.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Chi sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $24.50, for a total value of $183,750.00. Following the completion of the sale, the insider now owns 185,326 shares of the company’s stock, valued at $4,540,487. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 960,288 shares of company stock valued at $16,891,553. 17.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several hedge funds have recently bought and sold shares of HIMS. Forerunner Ventures Management LLC acquired a new position in Hims & Hers Health during the fourth quarter worth $86,836,000. Farallon Capital Management LLC increased its position in Hims & Hers Health by 3,890.5% during the first quarter. Farallon Capital Management LLC now owns 1,676,000 shares of the company’s stock worth $25,928,000 after buying an additional 1,634,000 shares during the last quarter. M&G Plc acquired a new position in Hims & Hers Health during the first quarter worth $8,232,000. Vanguard Group Inc. grew its position in shares of Hims & Hers Health by 3.1% in the third quarter. Vanguard Group Inc. now owns 14,126,744 shares of the company’s stock valued at $88,857,000 after purchasing an additional 428,671 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Hims & Hers Health by 39.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,272,750 shares of the company’s stock valued at $8,006,000 after purchasing an additional 357,590 shares during the last quarter. 63.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. TheStreet upgraded Hims & Hers Health from a “d” rating to a “c” rating in a research report on Monday, March 4th. Canaccord Genuity Group assumed coverage on Hims & Hers Health in a research report on Wednesday, April 10th. They set a “buy” rating and a $20.00 price objective for the company. Bank of America increased their price objective on Hims & Hers Health from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Piper Sandler increased their price objective on Hims & Hers Health from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Finally, Seaport Res Ptn reiterated a “buy” rating on shares of Hims & Hers Health in a research report on Friday, April 26th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Hims & Hers Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Hims & Hers Health Stock Up 6.1 %

NYSE HIMS opened at $21.42 on Tuesday. Hims & Hers Health has a 1-year low of $5.65 and a 1-year high of $25.74. The firm’s fifty day simple moving average is $17.78 and its 200-day simple moving average is $13.64.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, May 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $278.20 million for the quarter, compared to the consensus estimate of $270.37 million. Hims & Hers Health had a negative net margin of 0.24% and a negative return on equity of 0.70%. The business’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. As a group, equities analysts anticipate that Hims & Hers Health will post 0.2 earnings per share for the current year.

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.