Hinge Health (NYSE:HNGE) Trading Down 8.6% – Should You Sell?

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

Analyst Ratings Changes

A number of research analysts have recently commented on HNGE shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hinge Health in a research note on Thursday, January 22nd. Wells Fargo & Company started coverage on Hinge Health in a report on Thursday, January 8th. They set an “overweight” rating and a $68.00 price objective for the company. Royal Bank Of Canada upped their price objective on Hinge Health from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. Piper Sandler reduced their target price on Hinge Health from $71.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, January 9th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $65.00 target price on shares of Hinge Health in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Hinge Health currently has an average rating of “Moderate Buy” and an average price target of $57.07.

Hinge Health Stock Performance

The firm has a market capitalization of $2.88 billion and a P/E ratio of -2.86. The stock’s 50 day simple moving average is $40.71 and its 200 day simple moving average is $46.37.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.45. The company had revenue of $170.73 million for the quarter, compared to the consensus estimate of $157.31 million. The firm’s revenue was up 45.5% compared to the same quarter last year.

Insider Transactions at Hinge Health

In other news, President James Pursley sold 15,000 shares of the stock in a transaction 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. This represents a 2.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Budge sold 11,006 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $42.26, for a total value of $465,113.56. Following the transaction, the chief financial officer owned 401,427 shares in the company, valued at approximately $16,964,305.02. This represents a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 526,002 shares of company stock valued at $23,092,172.

Institutional Trading of Hinge Health

A number of hedge funds have recently added to or reduced their stakes in HNGE. Wells Fargo & Company MN grew its holdings in Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after acquiring an additional 336 shares in the last quarter. First Horizon Corp raised its holdings in shares of Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after purchasing an additional 531 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hinge Health in the 4th quarter worth approximately $26,000. Sandler Capital Management boosted its stake in shares of Hinge Health by 1.4% during the third quarter. Sandler Capital Management now owns 52,728 shares of the company’s stock valued at $2,588,000 after purchasing an additional 728 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Hinge Health during the third quarter valued at approximately $37,000.

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.