Honest (NASDAQ:HNST) Stock Price Down 6.3% - What's Next?

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report)'s stock price fell 6.3% during mid-day trading on Friday . The company traded as low as $5.84 and last traded at $5.93. 646,996 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 1,773,994 shares. The stock had previously closed at $6.33.

Analysts Set New Price Targets

HNST has been the topic of a number of research reports. Loop Capital downgraded Honest from a "buy" rating to a "hold" rating and set a $7.00 price objective on the stock. in a report on Tuesday, December 17th. Telsey Advisory Group raised their price objective on Honest from $6.00 to $7.00 and gave the stock a "market perform" rating in a report on Friday. B. Riley raised their price objective on Honest from $6.50 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Alliance Global Partners raised their price objective on Honest from $5.75 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Northland Securities raised their price objective on Honest from $7.50 to $9.50 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $6.93.

Honest Stock Performance

The firm has a market capitalization of $595.67 million, a PE ratio of -147.50 and a beta of 2.45. The firm has a fifty day moving average of $6.79 and a 200 day moving average of $4.75.

Insider Activity at Honest

In other Honest news, CEO Carla Vernon sold 65,176 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 owns 2,763,143 shares in the company, valued at $19,618,315.30. This trade represents a 2.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Brendan Sheehey sold 8,392 shares of the firm'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 value of $59,583.20. Following the sale, the general counsel now owns 516,816 shares of the company's stock, valued at approximately $3,669,393.60. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 799,818 shares of company stock worth $5,975,421. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Honest

Hedge funds have recently bought and sold shares of the business. Zacks Investment Management acquired a new stake in Honest during the 3rd quarter valued at approximately $37,000. Creative Planning acquired a new position in shares of Honest in the 3rd quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Honest in the 3rd quarter worth approximately $40,000. Castleview Partners LLC acquired a new position in shares of Honest in the 3rd quarter worth approximately $71,000. Finally, US Bancorp DE acquired a new position in shares of Honest in the 3rd quarter worth approximately $78,000. Institutional investors and hedge funds own 45.54% of the company's stock.

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.