Honest (NASDAQ:HNST) Trading Up 3.5% - Here's What Happened

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) traded up 3.5% on Thursday . The company traded as high as $6.54 and last traded at $6.53. 179,942 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 2,105,862 shares. The stock had previously closed at $6.31.

Wall Street Analyst Weigh In

HNST has been the topic of several recent research reports. Northland Securities lifted their target price on Honest from $7.50 to $9.50 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Telsey Advisory Group lifted their price objective on Honest from $6.00 to $7.00 and gave the stock a "market perform" rating in a research note on Friday, January 10th. Loop Capital cut Honest from a "buy" rating to a "hold" rating and set a $7.00 target price on the stock. in a report on Tuesday, December 17th. Alliance Global Partners raised their price target on shares of Honest from $5.75 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, B. Riley upped their price objective on shares of Honest from $6.50 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Three 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 data from MarketBeat.com, Honest has a consensus rating of "Moderate Buy" and a consensus price target of $6.93.

Honest Stock Performance

The stock has a market capitalization of $664.32 million, a P/E ratio of -164.50 and a beta of 2.45. The business has a fifty day simple moving average of $7.00 and a 200-day simple moving average of $4.87.

Insider Buying and Selling

In other news, General Counsel Brendan Sheehey sold 107,653 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.01, for a total transaction of $754,647.53. Following the transaction, the general counsel now owns 517,861 shares of the company's stock, valued at $3,630,205.61. This represents a 17.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David Loretta sold 27,004 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total value of $191,728.40. Following the completion of the sale, the chief financial officer now owns 960,753 shares of the company's stock, valued at approximately $6,821,346.30. This represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 799,818 shares of company stock valued at $5,975,421 over the last ninety days. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Honest

A number of institutional investors have recently modified their holdings of the company. Zacks Investment Management acquired a new stake in Honest in the 3rd quarter valued at $37,000. Creative Planning bought a new position in shares of Honest in the third quarter valued at $39,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Honest during the third quarter valued at about $40,000. Castleview Partners LLC bought a new stake in shares of Honest during the third quarter worth about $71,000. Finally, US Bancorp DE acquired a new stake in shares of Honest in the 3rd quarter worth about $78,000. 45.54% of the stock is owned by institutional investors and hedge funds.

About Honest

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.