Honest (NASDAQ:HNST) Shares Up 6.1% – What’s Next?

The Honest Company, Inc. (NASDAQ:HNST) shot up 6.1% on Friday . The company traded as high as $5.33 and last traded at $5.32. 1,609,727 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 2,482,194 shares. The stock had previously closed at $5.01.

Analysts Set New Price Targets

A number of brokerages have weighed in on HNST. Telsey Advisory Group restated a “market perform” rating and issued a $7.00 target price on shares of Honest in a research note on Thursday. Alliance Global Partners upped their target price on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Loop Capital lowered Honest from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research note on Tuesday, December 17th. B. Riley upped their target price on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Northland Securities upped their price objective on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Honest currently has an average rating of “Moderate Buy” and a consensus target price of $6.93.

Honest Trading Up 7.8 %

The stock has a market capitalization of $545.19 million, a PE ratio of -135.00 and a beta of 2.43. The business has a fifty day moving average price of $6.27 and a 200-day moving average price of $5.46.

Honest (NASDAQ:HNST) last issued its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The company had revenue of $99.84 million during the quarter, compared to analysts’ expectations of $96.46 million. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. On average, equities analysts anticipate that The Honest Company, Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Activity at Honest

In related news, Director Jessica Warren sold 465,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the completion of the sale, the director now directly owns 1,170,058 shares in the company, valued at $8,833,937.90. This represents a 28.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Honest

Institutional investors have recently bought and sold shares of the stock. Creative Planning purchased a new stake in Honest in the 3rd quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Honest in the 3rd quarter worth approximately $40,000. US Bancorp DE purchased a new stake in Honest in the 3rd quarter worth approximately $78,000. Harbor Capital Advisors Inc. lifted its holdings in Honest by 122.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company’s stock worth $784,000 after buying an additional 120,937 shares during the period. Finally, Mainstream Capital Management LLC purchased a new stake in Honest in the 3rd quarter worth approximately $843,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Honest Company Profile

The Honest Company, Inc manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.