Honest (NASDAQ:HNST) Trading Down 5.7% - Here's Why

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report)'s share price fell 5.7% during trading on Tuesday . The company traded as low as $6.26 and last traded at $6.21. 535,942 shares were traded during mid-day trading, a decline of 75% from the average session volume of 2,140,947 shares. The stock had previously closed at $6.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HNST shares. Alliance Global Partners increased their price target on shares of Honest from $5.75 to $8.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Telsey Advisory Group increased their target price on shares of Honest from $6.00 to $7.00 and gave the company a "market perform" rating in a report on Friday, January 10th. Loop Capital lowered Honest from a "buy" rating to a "hold" rating and set a $7.00 price target on the stock. in a research note on Tuesday, December 17th. Northland Securities raised their price objective on Honest from $7.50 to $9.50 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, B. Riley boosted their target price on Honest from $6.50 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $6.93.

Honest Trading Up 2.2 %

The stock has a market cap of $617.88 million, a PE ratio of -153.00 and a beta of 2.45. The business has a 50 day moving average of $7.10 and a 200-day moving average of $4.98.

Insider Buying and Selling at Honest

In other news, Director Jessica Warren sold 465,000 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the completion of 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 legal filing with the SEC, which is available through this link. Also, General Counsel Brendan Sheehey sold 92,138 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $8.13, for a total transaction of $749,081.94. Following the transaction, the general counsel now owns 516,816 shares in the company, valued at approximately $4,201,714.08. The trade was a 15.13 % decrease in their ownership of the stock. 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. Corporate insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On Honest

A number of large investors have recently bought and sold shares of HNST. Zacks Investment Management purchased a new stake in shares of Honest during the 3rd quarter valued at $37,000. Creative Planning purchased a new stake in Honest during the third quarter valued at about $39,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Honest during the third quarter worth about $40,000. Castleview Partners LLC purchased a new position in shares of Honest in the 3rd quarter worth about $71,000. Finally, US Bancorp DE acquired a new position in shares of Honest in the 3rd quarter valued at about $78,000. 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.

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