Solas Capital Management LLC Invests $480,000 in The Hain Celestial Group, Inc. $HAIN

Solas Capital Management LLC purchased a new position in shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 856,064 shares of the company’s stock, valued at approximately $480,000. The Hain Celestial Group comprises approximately 0.3% of Solas Capital Management LLC’s portfolio, making the stock its 21st largest holding. Solas Capital Management LLC owned about 0.95% of The Hain Celestial Group at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of HAIN. Vanguard Group Inc. increased its stake in The Hain Celestial Group by 8.0% in the third quarter. Vanguard Group Inc. now owns 7,029,733 shares of the company’s stock worth $11,107,000 after purchasing an additional 517,777 shares during the period. Nantahala Capital Management LLC boosted its stake in shares of The Hain Celestial Group by 117.6% during the fourth quarter. Nantahala Capital Management LLC now owns 6,528,789 shares of the company’s stock valued at $6,986,000 after purchasing an additional 3,528,789 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of The Hain Celestial Group by 33.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,853,731 shares of the company’s stock worth $6,263,000 after purchasing an additional 1,470,360 shares during the last quarter. Millennium Management LLC grew its holdings in shares of The Hain Celestial Group by 295.4% in the first quarter. Millennium Management LLC now owns 4,731,690 shares of the company’s stock worth $19,637,000 after purchasing an additional 3,535,073 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in The Hain Celestial Group in the 2nd quarter worth about $1,624,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analysts Set New Price Targets

HAIN has been the subject of several research reports. Jefferies Financial Group lowered their price objective on shares of The Hain Celestial Group from $1.03 to $0.81 and set a “hold” rating for the company in a research report on Tuesday, July 7th. Wall Street Zen raised shares of The Hain Celestial Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings raised shares of The Hain Celestial Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Six analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $1.06.

The Hain Celestial Group Stock Performance

NASDAQ HAIN opened at $0.84 on Tuesday. The firm’s 50 day moving average price is $0.57 and its 200-day moving average price is $0.71. The Hain Celestial Group, Inc. has a 52-week low of $0.48 and a 52-week high of $2.17. The company has a market cap of $75.85 million, a PE ratio of -0.15 and a beta of 0.73.

The Hain Celestial Group Profile

The Hain Celestial Group, Inc (NASDAQ: HAIN) is a leading global producer and marketer of natural and organic branded products. The company operates through two principal segments—Grocery and Personal Care—offering a diversified portfolio that spans shelf-stable foods, snacks, beverages, condiments and natural personal care items. Its product lineup addresses growing consumer demand for clean-label, plant-based and ethically sourced offerings in everyday categories.

Within its Grocery segment, Hain Celestial markets well-known brands such as Celestial Seasonings teas, Earth’s Best organic baby foods, Rudi’s organic bakery items, Terra vegetable chips and Sensible Portions snacks.