Hims & Hers Health (NYSE:HIMS) Stock Price Down 5.9% - Should You Sell?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report)'s share price dropped 5.9% on Tuesday . The company traded as low as $57.61 and last traded at $56.91. Approximately 5,781,827 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 13,390,774 shares. The stock had previously closed at $60.47.

Wall Street Analysts Forecast Growth

HIMS has been the subject of a number of analyst reports. BTIG Research initiated coverage on shares of Hims & Hers Health in a research report on Tuesday, January 7th. They issued a "buy" rating and a $35.00 price objective for the company. Piper Sandler upped their price objective on shares of Hims & Hers Health from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Morgan Stanley downgraded shares of Hims & Hers Health from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $42.00 to $60.00 in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upped their price target 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. Finally, TD Cowen restated a "buy" rating and set a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $28.53.

Hims & Hers Health Stock Down 26.1 %

The firm has a market capitalization of $10.73 billion, a PE ratio of 111.58 and a beta of 1.35. The firm's 50 day moving average price is $35.05 and its two-hundred day moving average price is $25.76.

Insider Activity

In other Hims & Hers Health news, insider Soleil Boughton sold 2,343 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $29.90, for a total transaction of $70,055.70. Following the sale, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Chi sold 7,259 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $24.07, for a total transaction of $174,724.13. Following the sale, the insider now directly owns 193,601 shares in the company, valued at $4,659,976.07. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,184,611 shares of company stock worth $40,338,442. 17.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hims & Hers Health

Several institutional investors have recently modified their holdings of HIMS. CWM LLC grew its position in shares of Hims & Hers Health by 21.4% during the third 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 last quarter. Creative Planning grew its position in Hims & Hers Health by 18.1% in the 3rd quarter. Creative Planning now owns 25,925 shares of the company's stock valued at $478,000 after buying an additional 3,979 shares in the last quarter. International Assets Investment Management LLC bought a new position in Hims & Hers Health in the 3rd quarter valued at about $6,790,000. Dakota Wealth Management bought a new position in Hims & Hers Health in the 3rd quarter valued at about $245,000. Finally, Lake Street Advisors Group LLC grew its position in Hims & Hers Health by 42.2% in the 3rd quarter. Lake Street Advisors Group LLC now owns 67,366 shares of the company's stock valued at $1,241,000 after buying an additional 20,000 shares in the last quarter. Institutional investors own 63.52% of the company's stock.

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.