Hinge Health (NYSE:HNGE) Reaches New 52-Week Low – Time to Sell?

Hinge Health Inc. (NYSE:HNGE) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $33.03 and last traded at $33.2950, with a volume of 407526 shares trading hands. The stock had previously closed at $35.23.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. KeyCorp decreased their target price on shares of Hinge Health from $72.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Wall Street Zen downgraded Hinge Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Canaccord Genuity Group upped their target price on Hinge Health from $61.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Stifel Nicolaus set a $59.00 target price on Hinge Health in a research note on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and set a $59.00 price target on shares of Hinge Health in a research report on Tuesday, January 6th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Hinge Health presently has a consensus rating of “Moderate Buy” and an average target price of $59.63.

Hinge Health Stock Down 4.5%

The firm has a 50-day moving average of $45.05 and a two-hundred day moving average of $49.20. The company has a market capitalization of $2.50 billion and a PE ratio of -2.42.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.18. The business had revenue of $154.21 million during the quarter, compared to analyst estimates of $142.44 million. The firm’s revenue was up 53.3% on a year-over-year basis.

Hinge Health announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Hinge Health

In related news, CFO James Budge sold 44,589 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $47.47, for a total transaction of $2,116,639.83. Following the completion of the transaction, the chief financial officer owned 479,878 shares of the company’s stock, valued at approximately $22,779,808.66. This trade represents a 8.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Bessemer Venture Partners X. L. sold 725,000 shares of Hinge Health stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $40.05, for a total transaction of $29,036,250.00. Following the completion of the sale, the insider owned 3,383,707 shares of the company’s stock, valued at $135,517,465.35. This trade represents a 17.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,805,105 shares of company stock valued at $128,216,614 over the last quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HNGE. FNY Investment Advisers LLC purchased a new stake in shares of Hinge Health in the 2nd quarter valued at $310,000. Strategic Blueprint LLC acquired a new position in Hinge Health in the 2nd quarter valued at about $346,000. Emerald Advisers LLC acquired a new position in Hinge Health in the 2nd quarter valued at about $108,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Hinge Health during the second quarter worth about $114,000. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of Hinge Health during the second quarter worth about $3,089,000.

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.