Shares of organic food company Hain Celestial (HAIN) have been regaining ground quickly since reporting quarterly results early Tuesday. Shares of Hain Celestial, whose brands include Celestial Teas, Terra chips, and Arrowhead Mills and many other familiar health brands, have lost about 40% of their value since last summer when they hit a yearly high of $45.61 per share in late July. Earlier this week shares dropped to their lowest level since 2013 after reporting Q3 results on Tuesday, May 8, that widely missed analyst estimates. Hain blamed the earnings miss on high commodity and freight costs. ACTIVIST STAKE: In late June of 2017, activist investor Engaged Capital disclosed a 9.9% stake in Hain Celestial. Engaged subsequently reached a pact with Hains for significant board changes and an exploration of strategic alternatives. TALKS OF SALE: Hain’s investors bid up the stock last summer on talks of a possible sale. At the time, Jefferies analyst Akshay Jagdale said he believed there would be “significant strategic interest” in Hain and that management “is a willing seller” at the right price. A deal for Hain makes the most sense for Pinnacle Foods (PF), Jagdale told investors in a research note in late July. In the Fall of 2017, the roster of potential buyers for Hain grew when Bloomberg reported that Nestle (NSRGY) is among the companies exploring a purchase of the health food marketer. Wells Fargo analyst John Baumgartner said at the time, that Nestle (NSRGY) would likely be a good fit for Hain’s baby food, skin care, and tea businesses. EXPLORING PURE PROTEIN SALE: Early this month, UBS analyst Steven Strycula reminded investors that Hain Celestial is exploring the sale of its Pure Protein asset, which he believes will enhance the company’s strategic value. Strycula also lowered his price target to $28 from $31. Hain’s CEO Irwin Simon suggested to The Deal a little more than a week ago, that the company could be sold down the road because “we’re probably not the best guys to take it to the next level.” U.S. TURNAROUND DELAYED: Earlier today, Hain Celestial’s price target was lowered to $30 from $38 at Loop Capital. Analyst Andrew Wolf lowered his price target for Hain Celestial to $30 citing the company’s Q3 EBITDA miss and guidance cut. A potential U.S. turnaround appears to have been deferred to fiscal 2019, Wolf told investors in a post-earnings research note. He kept a Hold rating on the shares. PRICE ACTION: Shares of Hain are up fractionally to $28.20 per share heading into the close.