The Hain Celestial Group, Inc. (NASDAQ:HAIN) Sees Large Decline in Short Interest

The Hain Celestial Group, Inc. (NASDAQ:HAIN - Get Free Report) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totalling 5,330,000 shares, a decline of 31.2% from the April 30th total of 7,750,000 shares. Currently, 6.0% of the company's shares are sold short. Based on an average daily trading volume, of 2,970,000 shares, the days-to-cover ratio is currently 1.8 days.

The Hain Celestial Group Stock Performance

Shares of The Hain Celestial Group stock traded down $0.06 on Thursday, hitting $1.67. The stock had a trading volume of 584,786 shares, compared to its average volume of 1,750,091. The Hain Celestial Group has a 52-week low of $1.30 and a 52-week high of $9.43. The company has a current ratio of 1.90, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a market cap of $150.27 million, a price-to-earnings ratio of -0.86 and a beta of 1.05. The company's 50 day moving average price is $2.65 and its 200 day moving average price is $4.55.

The Hain Celestial Group (NASDAQ:HAIN - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.05). The Hain Celestial Group had a negative net margin of 10.51% and a positive return on equity of 2.88%. The firm had revenue of $390.35 million during the quarter, compared to analysts' expectations of $414.45 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The firm's revenue for the quarter was down 10.9% on a year-over-year basis. On average, research analysts anticipate that The Hain Celestial Group will post 0.4 EPS for the current year.

Analyst Ratings Changes

HAIN has been the subject of a number of recent research reports. Evercore ISI decreased their target price on The Hain Celestial Group from $6.00 to $5.00 and set an "in-line" rating for the company in a report on Wednesday, April 23rd. Mizuho decreased their price target on The Hain Celestial Group from $3.50 to $3.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. CL King reaffirmed a "neutral" rating on shares of The Hain Celestial Group in a report on Thursday, May 8th. Sanford C. Bernstein downgraded The Hain Celestial Group from an "outperform" rating to a "market perform" rating and set a $1.50 price target for the company. in a report on Thursday, May 8th. Finally, Piper Sandler decreased their price target on The Hain Celestial Group from $2.00 to $1.80 and set a "neutral" rating for the company in a report on Tuesday. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $3.64.

Insider Activity

In related news, Director Neil Campbell bought 25,640 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of $1.93 per share, for a total transaction of $49,485.20. Following the completion of the acquisition, the director now owns 62,929 shares in the company, valued at approximately $121,452.97. This trade represents a 68.76% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawn M. Zier bought 200,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was bought at an average price of $1.60 per share, with a total value of $320,000.00. Following the completion of the acquisition, the director now owns 288,229 shares of the company's stock, valued at $461,166.40. This trade represents a 226.68% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 308,640 shares of company stock valued at $518,055. 0.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Hain Celestial Group

Institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its position in The Hain Celestial Group by 174.5% in the 1st quarter. Signaturefd LLC now owns 6,858 shares of the company's stock valued at $28,000 after acquiring an additional 4,360 shares during the period. Van ECK Associates Corp increased its position in The Hain Celestial Group by 49.0% in the 4th quarter. Van ECK Associates Corp now owns 10,805 shares of the company's stock valued at $66,000 after acquiring an additional 3,554 shares during the period. Virtu Financial LLC acquired a new position in The Hain Celestial Group in the 4th quarter valued at about $73,000. Wedmont Private Capital acquired a new position in The Hain Celestial Group in the 1st quarter valued at about $52,000. Finally, Brooklyn Investment Group increased its position in The Hain Celestial Group by 6,315.1% in the 1st quarter. Brooklyn Investment Group now owns 12,766 shares of the company's stock valued at $53,000 after acquiring an additional 12,567 shares during the period. Institutional investors and hedge funds own 97.01% of the company's stock.

The Hain Celestial Group Company Profile

The Hain Celestial Group, Inc manufactures, markets, and sells organic and natural products in United States, United Kingdom, Europe, and internationally. It operates through two segments: North America and International. The company offers infant formula; infant, toddler, and kids' food; plant-based beverages and frozen desserts, such as soy, rice, oat, and spelt; and condiments.