Honest (NASDAQ:HNST) Shares Down 1.9% – Here’s What Happened

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

Analysts Set New Price Targets

A number of research firms have weighed in on HNST. Lake Street Capital downgraded Honest from a “buy” rating to a “hold” rating and set a $3.00 target price on the stock. in a report on Thursday, November 6th. Weiss Ratings lowered shares of Honest from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. B. Riley reiterated a “buy” rating on shares of Honest in a research note on Thursday, November 6th. Telsey Advisory Group dropped their price objective on shares of Honest from $6.00 to $3.00 and set a “market perform” rating on the stock in a report on Thursday, November 6th. Finally, Zacks Research cut shares of Honest from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.00.

Honest Stock Down 1.9%

The stock has a market cap of $288.42 million, a P/E ratio of 43.00 and a beta of 2.30. The firm has a 50 day moving average price of $2.72 and a 200 day moving average price of $3.65.

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

Insiders Place Their Bets

In other Honest news, CEO Carla Vernon sold 97,505 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $2.60, for a total value of $253,513.00. Following the completion of the sale, the chief executive officer owned 2,901,488 shares in the company, valued at approximately $7,543,868.80. This represents a 3.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Winchell sold 10,595 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $2.60, for a total value of $27,547.00. Following the sale, the insider directly owned 399,662 shares in the company, valued at approximately $1,039,121.20. This represents a 2.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 8.90% of the company’s stock.

Institutional Trading of Honest

Hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its position in shares of Honest by 1,392.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 7,073 shares of the company’s stock valued at $26,000 after purchasing an additional 6,599 shares in the last quarter. Equity Wealth Partners LLC bought a new position in Honest during the third quarter valued at approximately $37,000. CIBC Bancorp USA Inc. bought a new position in Honest during the third quarter valued at approximately $39,000. Strategic Blueprint LLC purchased a new position in Honest during the 2nd quarter valued at approximately $52,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Honest by 85,544.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 15,416 shares of the company’s stock worth $57,000 after acquiring an additional 15,398 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.