The Honest Company, Inc. (NASDAQ:HNST – Get Free Report) shares dropped 4.6% during trading on Wednesday. The company traded as low as $4.82 and last traded at $4.8370. 547,681 shares were traded during trading, a decline of 71% from the average session volume of 1,859,806 shares. The stock had previously closed at $5.07.
Wall Street Analyst Weigh In
A number of brokerages recently commented on HNST. Weiss Ratings upgraded shares of Honest from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Wall Street Zen raised shares of Honest from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Freedom Capital upgraded Honest from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Telsey Advisory Group lifted their price objective on Honest from $4.00 to $5.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Finally, Morgan Stanley raised their price target on Honest from $3.40 to $5.70 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.84.
View Our Latest Report on Honest
Honest Stock Down 4.4%
The stock has a fifty day simple moving average of $5.28 and a 200 day simple moving average of $4.19. The firm has a market capitalization of $533.34 million, a P/E ratio of -43.95 and a beta of 2.32.
Honest (NASDAQ:HNST – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. Honest had a positive return on equity of 4.31% and a negative net margin of 3.56%. The company had revenue of $80.19 million during the quarter, compared to analyst estimates of $77.83 million. Research analysts anticipate that The Honest Company, Inc. will post 0.05 earnings per share for the current fiscal year.
Insider Transactions at Honest
In related news, CEO Carla Vernón sold 117,893 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $4.99, for a total transaction of $588,286.07. Following the completion of the sale, the chief executive officer owned 3,828,558 shares of the company’s stock, valued at $19,104,504.42. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Turner sold 29,899 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $5.21, for a total value of $155,773.79. Following the sale, the director owned 252,405 shares of the company’s stock, valued at approximately $1,315,030.05. This represents a 10.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 294,149 shares of company stock valued at $1,503,306 over the last three months. 9.40% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Honest
A number of institutional investors have recently modified their holdings of the stock. Allworth Financial LP purchased a new position in Honest during the second quarter worth approximately $26,000. Legal & General Group Plc purchased a new position in Honest in the 2nd quarter valued at about $36,000. Amundi purchased a new position in Honest in the 2nd quarter valued at about $44,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Honest in the second quarter valued at approximately $56,000. Finally, State of Wyoming acquired a new position in Honest in the 2nd quarter valued at $75,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.
Honest Company Profile
The Honest Company, Inc develops and sells consumer products focused on baby care, personal care, beauty, and household needs. Its product portfolio includes diapers, wipes, skin care products, bath and body items, personal care products, and household cleaning solutions.
Founded in 2011 by Jessica Alba and Brian Lee, the company was established with an emphasis on product transparency, responsible ingredient selection, and accessible wellness-oriented goods. Honest products are sold through the company’s direct-to-consumer platform and through retail partners, primarily serving customers in the United States.
The Honest Company is headquartered in Los Angeles, California, and trades on the Nasdaq under the symbol HNST.
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