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

The Hain Celestial Group, Inc. (NASDAQ:HAIN) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 5,120,000 shares, an increase of 8.5% from the November 15th total of 4,720,000 shares. Currently, 5.7% of the shares of the stock are sold short. Based on an average trading volume of 1,140,000 shares, the short-interest ratio is currently 4.5 days.

Hedge Funds Weigh In On The Hain Celestial Group

Institutional investors have recently modified their holdings of the company. Quest Partners LLC lifted its stake in shares of The Hain Celestial Group by 387.1% in the third quarter. Quest Partners LLC now owns 212,655 shares of the company’s stock valued at $1,835,000 after buying an additional 168,996 shares in the last quarter. Deerfield Management Company L.P. Series C raised its holdings in shares of The Hain Celestial Group by 391.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 124,589 shares of the company’s stock valued at $861,000 after purchasing an additional 99,246 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of The Hain Celestial Group during the third quarter valued at about $2,515,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in The Hain Celestial Group by 54.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,224,590 shares of the company’s stock worth $10,568,000 after purchasing an additional 434,070 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The Hain Celestial Group by 83.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,580 shares of the company’s stock valued at $238,000 after buying an additional 12,542 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

The Hain Celestial Group Price Performance

NASDAQ:HAIN traded down $0.10 during mid-day trading on Tuesday, reaching $7.45. The stock had a trading volume of 60,156 shares, compared to its average volume of 1,190,137. The stock has a 50-day simple moving average of $8.22 and a two-hundred day simple moving average of $7.75. 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 has a 12 month low of $5.68 and a 12 month high of $11.68. The stock has a market capitalization of $671.95 million, a PE ratio of -8.03 and a beta of 0.71.

The Hain Celestial Group (NASDAQ:HAIN) 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 business had revenue of $394.60 million for the quarter, compared to analyst estimates of $394.24 million. The Hain Celestial Group had a positive return on equity of 3.13% and a negative net margin of 4.94%. The business’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) earnings per share. On average, equities analysts anticipate that The Hain Celestial Group will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HAIN. Barclays reduced their price objective on The Hain Celestial Group from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Piper Sandler reiterated 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. Stifel Nicolaus increased their target price on The Hain Celestial Group from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, DA Davidson cut their price target on shares of The Hain Celestial Group from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Six 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 has an average rating of “Hold” and an average target price of $9.43.

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.