The Hain Celestial Group (NASDAQ:HAIN) Shares Down 5.5% - Here's Why

Shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN - Get Free Report) were down 5.5% on Thursday . The company traded as low as $6.74 and last traded at $6.74. Approximately 362,915 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,191,680 shares. The stock had previously closed at $7.13.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HAIN. Barclays decreased their price target on The Hain Celestial Group from $9.00 to $8.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. Stifel Nicolaus increased their target price on shares of The Hain Celestial Group from $8.00 to $9.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. Piper Sandler reissued a "neutral" rating and set a $8.00 price target on shares of The Hain Celestial Group in a research report on Thursday, September 19th. Finally, DA Davidson reduced their price objective on shares of The Hain Celestial Group from $9.00 to $8.00 and set a "neutral" rating for the company in a research report on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $9.43.

The Hain Celestial Group Trading Down 8.3 %

The firm's 50-day simple moving average is $8.16 and its 200 day simple moving average is $7.74. The firm has a market cap of $589.84 million, a P/E ratio of -6.96 and a beta of 0.71. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.76.

The Hain Celestial Group (NASDAQ:HAIN - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.04) EPS 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 company had revenue of $394.60 million during the quarter, compared to the consensus estimate of $394.24 million. During the same period last year, the firm posted ($0.04) EPS. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, analysts expect that The Hain Celestial Group, Inc. will post 0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP raised its stake in The Hain Celestial Group by 433.5% in the 3rd quarter. Allworth Financial LP now owns 2,982 shares of the company's stock valued at $26,000 after acquiring an additional 2,423 shares during the period. Signaturefd LLC raised its position in shares of The Hain Celestial Group by 125.9% in the second quarter. Signaturefd LLC now owns 3,994 shares of the company's stock valued at $28,000 after purchasing an additional 2,226 shares during the period. nVerses Capital LLC lifted its stake in shares of The Hain Celestial Group by 161.1% during the 2nd quarter. nVerses Capital LLC now owns 4,700 shares of the company's stock valued at $32,000 after buying an additional 2,900 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in The Hain Celestial Group by 225.5% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,954 shares of the company's stock worth $43,000 after buying an additional 3,432 shares during the period. Finally, CWA Asset Management Group LLC bought a new position in The Hain Celestial Group in the 3rd quarter worth approximately $87,000. Institutional investors 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.