Honest (NASDAQ:HNST) Trading Down 5.7% – What’s Next?

The Honest Company, Inc. (NASDAQ:HNST)’s stock price fell 5.7% on Tuesday . The stock traded as low as $6.26 and last traded at $6.21. 535,942 shares were traded during trading, a decline of 75% from the average session volume of 2,140,947 shares. The stock had previously closed at $6.58.

Analyst Upgrades and Downgrades

Several research analysts have commented on HNST shares. Northland Securities lifted their price objective on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Telsey Advisory Group upped their price target on shares of Honest from $6.00 to $7.00 and gave the company a “market perform” rating in a report on Friday, January 10th. Loop Capital lowered Honest from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research report on Tuesday, December 17th. Alliance Global Partners increased their price target on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, B. Riley boosted their price objective on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.93.

Honest Price Performance

The stock has a market cap of $617.88 million, a PE ratio of -153.00 and a beta of 2.45. The firm has a 50 day moving average of $7.10 and a two-hundred day moving average of $4.98.

Insider Activity

In related news, General Counsel Brendan Sheehey sold 107,653 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $7.01, for a total value of $754,647.53. Following the completion of the sale, the general counsel now directly owns 517,861 shares of the company’s stock, valued at $3,630,205.61. This represents a 17.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carla Vernon sold 65,176 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total value of $462,749.60. Following the transaction, the chief executive officer now owns 2,763,143 shares in the company, valued at $19,618,315.30. This represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 799,818 shares of company stock worth $5,975,421. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Honest

Institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers lifted its position in Honest by 2,486.2% during the 2nd quarter. Rhumbline Advisers now owns 104,481 shares of the company’s stock worth $305,000 after acquiring an additional 100,441 shares during the period. American Century Companies Inc. lifted its holdings in shares of Honest by 41.5% during the second quarter. American Century Companies Inc. now owns 111,141 shares of the company’s stock worth $325,000 after purchasing an additional 32,586 shares during the period. Dimensional Fund Advisors LP grew its position in Honest by 68.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock valued at $2,755,000 after buying an additional 382,418 shares during the last quarter. Renaissance Technologies LLC increased its stake in Honest by 117.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock valued at $4,579,000 after buying an additional 846,300 shares during the period. Finally, XTX Topco Ltd raised its position in Honest by 6.4% during the 2nd quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock worth $402,000 after buying an additional 8,282 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.