Honest (NASDAQ:HNST) Stock Price Up 6.1% - Here's Why

Shares of The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) traded up 6.1% during trading on Friday . The stock traded as high as $5.33 and last traded at $5.32. 1,609,727 shares were traded during mid-day trading, a decline of 35% from the average session volume of 2,482,194 shares. The stock had previously closed at $5.01.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Loop Capital cut shares of Honest from a "buy" rating to a "hold" rating and set a $7.00 target price for the company. in a research report on Tuesday, December 17th. Northland Securities boosted 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 reaffirmed a "market perform" rating and set a $7.00 price target on shares of Honest in a report on Thursday, February 27th. Alliance Global Partners boosted their price objective on Honest from $5.75 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Finally, B. Riley increased their target price on Honest from $6.50 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Honest presently has a consensus rating of "Moderate Buy" and an average price target of $6.93.

Honest Stock Performance

The stock has a 50-day simple moving average of $6.24 and a 200 day simple moving average of $5.48. The stock has a market capitalization of $574.50 million, a P/E ratio of -131.88 and a beta of 2.43.

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Honest (NASDAQ:HNST - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $99.84 million for the quarter, compared to analysts' expectations of $96.46 million. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. Equities analysts predict that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

Insider Buying and Selling at Honest

In other news, Director Jessica Warren sold 465,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total value of $3,510,750.00. Following the transaction, the director now owns 1,170,058 shares of the company's stock, valued at $8,833,937.90. This represents a 28.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On Honest

Institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in Honest during the fourth quarter worth about $26,000. New York State Teachers Retirement System bought a new position in Honest during the 4th quarter worth approximately $52,000. Zacks Investment Management bought a new position in Honest during the 3rd quarter worth approximately $37,000. Creative Planning acquired a new position in Honest during the third quarter valued at approximately $39,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Honest in the third quarter valued at approximately $40,000. 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.