Short Interest in Hims & Hers Health, Inc. (NYSE:HIMS) Expands By 21.3%

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 52,120,000 shares, a growth of 21.3% from the December 31st total of 42,970,000 shares. Currently, 29.4% of the company's shares are sold short. Based on an average trading volume of 16,430,000 shares, the days-to-cover ratio is currently 3.2 days.

Hims & Hers Health Price Performance

Shares of HIMS traded up $0.49 during midday trading on Wednesday, hitting $42.34. The stock had a trading volume of 14,076,124 shares, compared to its average volume of 11,225,702. The firm has a market cap of $9.25 billion, a PE ratio of 96.32 and a beta of 1.35. The stock's 50 day moving average is $29.58 and its 200 day moving average is $22.86. Hims & Hers Health has a 1 year low of $8.58 and a 1 year high of $44.43.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.26. The company had revenue of $401.56 million for the quarter, compared to analyst estimates of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. Hims & Hers Health's revenue was up 77.1% compared to the same quarter last year. During the same period last year, the company posted ($0.04) earnings per share. As a group, equities research analysts expect that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Soleil Boughton sold 4,153 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $35.30, for a total value of $146,600.90. Following the transaction, the insider now owns 161,497 shares in the company, valued at $5,700,844.10. The trade was a 2.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Dudum sold 33,513 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.38, for a total transaction of $1,118,663.94. Following the sale, the chief executive officer now owns 33,502 shares in the company, valued at approximately $1,118,296.76. The trade was a 50.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,156,332 shares of company stock valued at $33,853,055 over the last quarter. 17.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HIMS. Yong Rong HK Asset Management Ltd purchased a new stake in Hims & Hers Health during the 4th quarter worth approximately $41,104,000. Principal Financial Group Inc. grew its position in Hims & Hers Health by 370.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,365,769 shares of the company's stock valued at $33,024,000 after acquiring an additional 1,075,355 shares in the last quarter. Wellington Management Group LLP raised its position in Hims & Hers Health by 34.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company's stock valued at $63,446,000 after purchasing an additional 883,230 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Hims & Hers Health by 128.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,244,953 shares of the company's stock valued at $30,103,000 after acquiring an additional 700,500 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Hims & Hers Health by 12.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company's stock valued at $79,029,000 after purchasing an additional 482,177 shares during the period. Hedge funds and other institutional investors own 63.52% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Needham & Company LLC lifted their price objective on Hims & Hers Health from $28.00 to $31.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Citigroup cut shares of Hims & Hers Health from a "neutral" rating to a "sell" rating and raised their target price for the stock from $24.00 to $25.00 in a report on Friday, January 10th. Piper Sandler increased their price target on Hims & Hers Health from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Monday, January 6th. TD Cowen reiterated a "buy" rating and set a $28.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Finally, Bank of America cut Hims & Hers Health from a "buy" rating to an "underperform" rating and dropped their target price for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hims & Hers Health presently has a consensus rating of "Hold" and an average price target of $25.13.

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.