Hinge Health (NYSE:HNGE) Trading Down 8.6% – Time to Sell?

Shares of Hinge Health Inc. (NYSE:HNGE) dropped 8.6% during trading on Friday . The stock traded as low as $37.15 and last traded at $36.7050. Approximately 698,009 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 1,263,011 shares. The stock had previously closed at $40.18.

Analyst Ratings Changes

Several research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $59.00 price objective on shares of Hinge Health in a report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Hinge Health in a research report on Thursday, January 22nd. Royal Bank Of Canada increased their price target on Hinge Health from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, March 11th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $65.00 price objective on shares of Hinge Health in a research note on Wednesday, February 11th. Finally, Canaccord Genuity Group decreased their price objective on Hinge Health from $65.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Hinge Health presently has an average rating of “Moderate Buy” and an average target price of $57.07.

Hinge Health Stock Performance

The business’s fifty day moving average price is $40.71 and its two-hundred day moving average price is $46.37. The stock has a market capitalization of $2.88 billion and a P/E ratio of -2.86.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.45. The business had revenue of $170.73 million during the quarter, compared to the consensus estimate of $157.31 million. The firm’s revenue for the quarter was up 45.5% on a year-over-year basis.

Insider Buying and Selling

In other news, President James Pursley sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $42.26, for a total transaction of $633,900.00. Following the transaction, the president owned 732,104 shares of the company’s stock, valued at approximately $30,938,715.04. The trade was a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Daniel Antonio Perez sold 166,665 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $40.26, for a total value of $6,709,932.90. The disclosure for this sale is available in the SEC filing. Insiders sold 526,002 shares of company stock valued at $23,092,172 over the last quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HNGE. Wells Fargo & Company MN raised its stake in shares of Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after acquiring an additional 336 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hinge Health during the 4th quarter worth about $26,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Hinge Health during the 3rd quarter valued at about $37,000. First Horizon Corp raised its position in Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after purchasing an additional 531 shares during the period. Finally, High Point Wealth Management LLC purchased a new stake in Hinge Health in the 4th quarter worth about $46,000.

Hinge Health Company Profile

Hinge Health (NYSE: HNGE) is a digital musculoskeletal (MSK) clinic that provides end-to-end solutions for the prevention and management of musculoskeletal conditions. The company’s platform combines wearable motion sensors, personalized exercise therapy guided by licensed physical therapists, and behavioral health coaching to deliver tailored treatment plans. By integrating technology with evidence-based clinical protocols, Hinge Health aims to reduce pain, improve mobility and decrease reliance on more invasive interventions such as surgery or opioid prescriptions.

Founded in 2015 and headquartered in San Francisco, Hinge Health partners with employers, health plans and other payers to offer its self-directed, app-based programs.