The Honest Company, Inc. (NASDAQ:HNST – Get Free Report)’s share price shot up 9% during trading on Monday. The company traded as high as $4.50 and last traded at $4.5450. 472,632 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,876,541 shares. The stock had previously closed at $4.17.
Analyst Ratings Changes
A number of analysts recently commented on HNST shares. Morgan Stanley boosted their price objective on shares of Honest from $3.40 to $5.70 and gave the stock an “equal weight” rating in a report on Wednesday, August 12th. Wall Street Zen raised shares of Honest from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings cut shares of Honest from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Freedom Capital upgraded shares of Honest from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, Telsey Advisory Group boosted their price target on Honest from $4.00 to $5.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.84.
Read Our Latest Report on HNST
Honest Price Performance
The firm has a market capitalization of $478.85 million, a PE ratio of -39.55 and a beta of 2.48. The company has a 50-day moving average price of $5.19 and a 200-day moving average price of $3.79.
Honest (NASDAQ:HNST – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $80.19 million during the quarter, compared to analysts’ expectations of $77.83 million. Honest had a positive return on equity of 4.31% and a negative net margin of 3.56%. On average, research analysts predict that The Honest Company, Inc. will post 0.05 earnings per share for the current fiscal year.
Insider Buying and Selling at Honest
In related news, SVP Jonathan Mayle sold 79,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $5.22, for a total transaction of $412,380.00. Following the sale, the senior vice president owned 370,155 shares in the company, valued at approximately $1,932,209.10. This trade represents a 17.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brendan Sheehey sold 9,664 shares of Honest stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $4.99, for a total transaction of $48,223.36. Following the completion of the sale, the general counsel directly owned 706,224 shares of the company’s stock, valued at $3,524,057.76. The trade was a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 294,149 shares of company stock valued at $1,503,306. 9.40% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Honest
A number of hedge funds and other institutional investors have recently made changes to their positions in HNST. BlackRock Inc. acquired a new position in shares of Honest during the 2nd quarter valued at about $25,662,000. Green Alpha Advisors LLC acquired a new stake in shares of Honest in the second quarter worth approximately $1,092,000. Bank of America Corp DE acquired a new stake in shares of Honest in the second quarter worth approximately $715,000. State of Wyoming boosted its position in shares of Honest by 488.4% in the third quarter. State of Wyoming now owns 120,765 shares of the company’s stock worth $620,000 after acquiring an additional 100,241 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in Honest in the second quarter valued at approximately $328,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.
About Honest
The Honest Company, Inc is a consumer products company that develops and sells personal care, beauty, baby, and household products. Its offerings include diapers, wipes, baby care items, skin care, hair care, personal care products, and household cleaning solutions, with an emphasis on ingredient transparency and products positioned as safer and more sustainable alternatives.
Founded in 2011 by actress and entrepreneur Jessica Alba, Honest sells its products through its website and retail partners.
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