Honest (NASDAQ:HNST) Trading 3.5% Higher – Here’s What Happened

The Honest Company, Inc. (NASDAQ:HNST)’s stock price rose 3.5% during trading on Thursday . The company traded as high as $6.54 and last traded at $6.53. Approximately 179,942 shares were traded during trading, a decline of 91% from the average daily volume of 2,105,862 shares. The stock had previously closed at $6.31.

Wall Street Analyst Weigh In

HNST has been the subject of several analyst reports. Northland Securities boosted their price target on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Alliance Global Partners lifted their target price on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. B. Riley lifted their price target on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Telsey Advisory Group increased their target price on Honest from $6.00 to $7.00 and gave the stock a “market perform” rating in a report on Friday, January 10th. Finally, Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research note on Tuesday, December 17th. Three investment 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 company’s stock. According to MarketBeat, Honest currently has an average rating of “Moderate Buy” and a consensus price target of $6.93.

Honest Stock Up 2.8 %

The stock has a fifty day moving average of $7.04 and a 200-day moving average of $4.90. The firm has a market capitalization of $664.32 million, a P/E ratio of -164.50 and a beta of 2.45.

Insider Activity

In other Honest news, EVP Stephen Winchell sold 7,123 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction of $50,573.30. Following the transaction, the executive vice president now owns 382,613 shares in the company, valued at approximately $2,716,552.30. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carla Vernon sold 65,176 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total transaction of $462,749.60. Following the completion of the sale, the chief executive officer now directly owns 2,763,143 shares of the company’s stock, valued at $19,618,315.30. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 799,818 shares of company stock valued at $5,975,421 over the last three months. 8.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Honest

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in shares of Honest by 47.7% during the 4th quarter. SG Americas Securities LLC now owns 42,229 shares of the company’s stock worth $293,000 after acquiring an additional 13,644 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Honest by 377.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 773,806 shares of the company’s stock worth $2,762,000 after buying an additional 611,844 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Honest during the 3rd quarter worth about $164,000. Virtu Financial LLC acquired a new stake in Honest during the third quarter worth approximately $219,000. Finally, Barclays PLC grew its position in shares of Honest by 298.9% in the third quarter. Barclays PLC now owns 110,386 shares of the company’s stock valued at $394,000 after purchasing an additional 82,713 shares during the last quarter. Institutional investors and hedge funds 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.