Honest (NASDAQ:HNST) Stock Price Down 1.9% – Time to Sell?

The Honest Company, Inc. (NASDAQ:HNST) fell 1.9% during trading on Friday . The company traded as low as $2.57 and last traded at $2.58. 2,174,175 shares changed hands during trading, an increase of 10% from the average session volume of 1,971,883 shares. The stock had previously closed at $2.63.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Telsey Advisory Group reduced their price target on shares of Honest from $6.00 to $3.00 and set a “market perform” rating on the stock in a research report on Thursday, November 6th. Zacks Research cut shares of Honest from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. Lake Street Capital cut shares of Honest from a “buy” rating to a “hold” rating and set a $3.00 target price on the stock. in a research report on Thursday, November 6th. Weiss Ratings downgraded shares of Honest from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Finally, Morgan Stanley reduced their price objective on Honest from $4.25 to $3.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.00.

Honest Stock Down 1.9%

The company’s 50 day moving average price is $2.72 and its two-hundred day moving average price is $3.65. The firm has a market cap of $288.42 million, a PE ratio of 43.00 and a beta of 2.30.

Honest (NASDAQ:HNST) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. Honest had a net margin of 1.85% and a return on equity of 3.86%. The company had revenue of $92.57 million for the quarter, compared to the consensus estimate of $99.43 million. On average, analysts expect that The Honest Company, Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Stephen Winchell sold 10,595 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $2.60, for a total transaction of $27,547.00. Following the completion of the transaction, the insider owned 399,662 shares in the company, valued at $1,039,121.20. The trade was a 2.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Carla Vernon sold 97,505 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $2.60, for a total value of $253,513.00. Following the completion of the transaction, the chief executive officer directly owned 2,901,488 shares in the company, valued at $7,543,868.80. This trade represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 8.90% of the company’s stock.

Institutional Trading of Honest

A number of large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Honest by 6.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,916 shares of the company’s stock valued at $235,000 after purchasing an additional 3,210 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Honest by 18.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 21,366 shares of the company’s stock worth $81,000 after purchasing an additional 3,365 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Honest by 33.9% during the second quarter. Osaic Holdings Inc. now owns 14,577 shares of the company’s stock valued at $74,000 after purchasing an additional 3,693 shares in the last quarter. Inspire Investing LLC increased its holdings in Honest by 5.1% during the second quarter. Inspire Investing LLC now owns 76,206 shares of the company’s stock valued at $388,000 after buying an additional 3,730 shares during the period. Finally, CWM LLC raised its stake in Honest by 17.1% in the third quarter. CWM LLC now owns 27,342 shares of the company’s stock worth $101,000 after buying an additional 3,985 shares in the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

Honest Company Profile

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.