Hinge Health (NYSE:HNGE) Sees Large Volume Increase – Still a Buy?

Hinge Health Inc. (NYSE:HNGE) saw strong trading volume on Tuesday . 1,456,380 shares changed hands during mid-day trading, an increase of 30% from the previous session’s volume of 1,123,016 shares.The stock last traded at $50.3360 and had previously closed at $48.89.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hinge Health in a research report on Thursday, January 22nd. Freedom Capital raised shares of Hinge Health to a “strong-buy” rating in a report on Thursday, January 22nd. Piper Sandler reduced their price target on shares of Hinge Health from $71.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, January 9th. Wells Fargo & Company began coverage on shares of Hinge Health in a research report on Thursday, January 8th. They issued an “overweight” rating and a $68.00 price objective on the stock. Finally, Wall Street Zen downgraded Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday. One 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.73.

Hinge Health Stock Performance

The firm has a market cap of $4.12 billion and a P/E ratio of -4.08. The business has a 50-day simple moving average of $42.03 and a 200 day simple moving average of $43.94.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.45. The company had revenue of $170.73 million during the quarter, compared to the consensus estimate of $157.31 million. Hinge Health’s quarterly revenue was up 45.5% compared to the same quarter last year. On average, research analysts expect that Hinge Health Inc. will post 0.78 EPS for the current year.

Insider Activity at Hinge Health

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 33,333 shares of Hinge Health stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $45.05, for a total value of $1,501,651.65. Following the sale, the chairman owned 33,333 shares of the company’s stock, valued at $1,501,651.65. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 15,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $42.26, for a total value of $633,900.00. Following the transaction, the president owned 732,104 shares of the company’s stock, valued at $30,938,715.04. This represents a 2.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 442,670 shares of company stock worth $18,786,901 in the last quarter. 18.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hinge Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new stake in shares of Hinge Health during the 2nd quarter worth approximately $367,000. Sei Investments Co. acquired a new position in Hinge Health during the 2nd quarter worth about $869,000. Squarepoint Ops LLC acquired a new position in Hinge Health in the 2nd quarter valued at about $19,706,000. Raymond James Financial Inc. purchased a new stake in Hinge Health during the second quarter worth about $3,258,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Hinge Health during the second quarter worth about $657,000.

About Hinge Health

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.