The Hain Celestial Group (NASDAQ:HAIN) Shares Down 3.6% - Here's What Happened

The Hain Celestial Group, Inc. (NASDAQ:HAIN - Get Free Report) shares traded down 3.6% on Monday . The company traded as low as $5.97 and last traded at $5.97. 72,295 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 856,459 shares. The stock had previously closed at $6.19.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HAIN. Piper Sandler reiterated a "neutral" rating and set a $8.00 target price on shares of The Hain Celestial Group in a research note on Thursday, September 19th. Barclays lowered their price objective on The Hain Celestial Group from $9.00 to $8.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Finally, DA Davidson decreased their target price on The Hain Celestial Group from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, The Hain Celestial Group presently has a consensus rating of "Hold" and an average target price of $9.43.

The Hain Celestial Group Stock Performance

The company has a market cap of $505.09 million, a PE ratio of -5.96 and a beta of 0.76. The stock has a 50 day simple moving average of $7.57 and a two-hundred day simple moving average of $7.65. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.01 and a quick ratio of 1.05.

The Hain Celestial Group (NASDAQ:HAIN - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). The Hain Celestial Group had a positive return on equity of 3.13% and a negative net margin of 4.94%. The business had revenue of $394.60 million for the quarter, compared to analyst estimates of $394.24 million. During the same quarter in the prior year, the company earned ($0.04) EPS. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. Equities analysts predict that The Hain Celestial Group, Inc. will post 0.44 EPS for the current year.

Institutional Trading of The Hain Celestial Group

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in The Hain Celestial Group by 433.5% in the third quarter. Allworth Financial LP now owns 2,982 shares of the company's stock valued at $26,000 after purchasing an additional 2,423 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of The Hain Celestial Group by 225.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,954 shares of the company's stock valued at $43,000 after buying an additional 3,432 shares in the last quarter. Choreo LLC purchased a new position in The Hain Celestial Group in the second quarter worth $71,000. Evergreen Capital Management LLC acquired a new stake in The Hain Celestial Group in the second quarter valued at $72,000. Finally, Intech Investment Management LLC purchased a new stake in shares of The Hain Celestial Group during the 2nd quarter worth $82,000. 97.01% of the stock is owned by institutional investors and hedge funds.

About The Hain Celestial Group

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.