Hinge Health (NYSE:HNGE) Shares Down 4.5% - Should You Sell?

Hinge Health Inc. (NYSE:HNGE - Get Free Report) shares dropped 4.5% on Tuesday . The company traded as low as $44.50 and last traded at $45.15. Approximately 272,965 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 966,781 shares. The stock had previously closed at $47.26.

Wall Street Analyst Weigh In

HNGE has been the subject of a number of analyst reports. Needham & Company LLC initiated coverage on shares of Hinge Health in a research report on Monday, June 16th. They set a "buy" rating and a $47.00 target price for the company. Evercore ISI initiated coverage on shares of Hinge Health in a research note on Monday, June 16th. They issued an "outperform" rating and a $50.00 price objective on the stock. Stifel Nicolaus initiated coverage on shares of Hinge Health in a research report on Monday, June 16th. They set a "buy" rating and a $48.00 price target on the stock. Canaccord Genuity Group initiated coverage on shares of Hinge Health in a research report on Monday, June 16th. They issued a "buy" rating and a $52.00 target price on the stock. Finally, Bank of America began coverage on shares of Hinge Health in a research note on Monday, June 16th. They set a "buy" rating and a $42.00 price objective for the company. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $49.36.

Hinge Health Trading Down 1.8%

Hedge Funds Weigh In On Hinge Health

An institutional investor recently bought a new position in Hinge Health stock. CHURCHILL MANAGEMENT Corp bought a new position in Hinge Health Inc. (NYSE:HNGE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,996 shares of the company's stock, valued at approximately $828,000.

Hinge Health Company Profile

Our vision is to build a new health system that transforms outcomes, experience and costs by using technology to scale and automate the delivery of care. Hinge Health leverages software, including AI, to largely automate care for joint and muscle health, delivering an outstanding member experience, improved member outcomes, and cost reductions for our clients.

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