Honest (NASDAQ:HNST) Shares Down 4% – Should You Sell?

The Honest Company, Inc. (NASDAQ:HNST)’s stock price was down 4% during trading on Monday . The stock traded as low as $4.93 and last traded at $4.96. Approximately 1,559,127 shares changed hands during trading, a decline of 35% from the average daily volume of 2,383,690 shares. The stock had previously closed at $5.16.

Analyst Ratings Changes

Separately, Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 price objective on shares of Honest in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.70.

Honest Trading Down 3.0%

The stock has a 50 day simple moving average of $4.78 and a 200-day simple moving average of $5.76. The firm has a market cap of $551.74 million, a PE ratio of -124.88 and a beta of 2.39.

Honest (NASDAQ:HNST) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $97.25 million during the quarter, compared to analysts’ expectations of $92.46 million. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. On average, equities research analysts expect that The Honest Company, Inc. will post -0.07 EPS for the current year.

Insider Activity at Honest

In other Honest news, SVP Jonathan Mayle sold 4,788 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total value of $25,472.16. Following the transaction, the senior vice president now owns 302,952 shares in the company, valued at approximately $1,611,704.64. This trade represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Carla Vernon sold 98,950 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $5.32, for a total value of $526,414.00. Following the completion of the sale, the chief executive officer now owns 3,098,321 shares of the company’s stock, valued at approximately $16,483,067.72. The trade was a 3.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 223,207 shares of company stock worth $1,163,795 over the last three months. 8.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Honest

Several institutional investors and hedge funds have recently modified their holdings of the company. Ieq Capital LLC increased its holdings in Honest by 61.3% in the fourth quarter. Ieq Capital LLC now owns 130,651 shares of the company’s stock valued at $905,000 after buying an additional 49,673 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in Honest by 589.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company’s stock worth $16,616,000 after purchasing an additional 2,049,981 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Honest during the 4th quarter worth approximately $819,000. Vanguard Group Inc. raised its stake in shares of Honest by 25.7% during the 4th quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company’s stock worth $35,671,000 after buying an additional 1,052,305 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in Honest during the 4th quarter valued at $932,000. 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.