Hims & Hers Health (NYSE:HIMS) Shares Gap Down - Time to Sell?

Hims & Hers Health, Inc. (NYSE:HIMS - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $68.74, but opened at $65.08. Hims & Hers Health shares last traded at $63.33, with a volume of 9,502,094 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HIMS shares. Morgan Stanley cut Hims & Hers Health from an "overweight" rating to an "equal weight" rating and lifted their target price for the stock from $42.00 to $60.00 in a report on Tuesday. 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 research note on Monday, January 6th. Bank of America increased their target price on Hims & Hers Health from $18.00 to $21.00 and gave the company an "underperform" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted 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, Citigroup cut shares of Hims & Hers Health from a "neutral" rating to a "sell" rating and lifted their price objective for the stock from $24.00 to $25.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Hims & Hers Health has an average rating of "Hold" and an average price target of $28.53.

Hims & Hers Health Trading Down 26.1 %

The company has a market capitalization of $10.73 billion, a PE ratio of 111.58 and a beta of 1.35. The stock's 50-day moving average is $34.66 and its two-hundred day moving average is $25.48.

Insider Activity

In other news, CEO Andrew Dudum sold 128,127 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $58.27, for a total transaction of $7,465,960.29. Following the completion of the sale, the chief executive officer now directly owns 97,687 shares of the company's stock, valued at approximately $5,692,221.49. The trade was a 56.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Soleil Boughton sold 4,152 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total transaction of $251,984.88. Following the completion of the transaction, the insider now owns 157,345 shares in the company, valued at approximately $9,549,268.05. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,184,611 shares of company stock valued at $40,338,442. 17.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new position in Hims & Hers Health in the 4th quarter worth about $28,000. Raleigh Capital Management Inc. boosted its holdings in shares of Hims & Hers Health by 1,100.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,100 shares during the period. Blume Capital Management Inc. grew its stake in Hims & Hers Health by 100.0% in the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 600 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Hims & Hers Health by 4,415.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company's stock worth $36,000 after purchasing an additional 1,413 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Hims & Hers Health during the 4th quarter valued at $38,000. 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.