Short Interest in The Honest Company, Inc. (NASDAQ:HNST) Declines By 17.7%

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) saw a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 4,730,000 shares, a decline of 17.7% from the February 28th total of 5,750,000 shares. Approximately 5.3% of the company's shares are sold short. Based on an average trading volume of 2,640,000 shares, the days-to-cover ratio is currently 1.8 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HNST shares. Telsey Advisory Group restated a "market perform" rating and issued a $7.00 price target on shares of Honest in a report on Thursday, February 27th. Loop Capital cut shares of Honest from a "buy" rating to a "hold" rating and set a $7.00 price objective on the stock. in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $7.70.

Honest Stock Down 3.2 %

HNST traded down $0.14 during trading on Friday, hitting $4.18. 4,194,072 shares of the company's stock were exchanged, compared to its average volume of 2,092,867. Honest has a fifty-two week low of $2.40 and a fifty-two week high of $8.97. The stock has a market cap of $455.24 million, a P/E ratio of -104.50 and a beta of 2.44. The business's 50 day moving average is $5.48 and its two-hundred day moving average is $5.58.

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Honest (NASDAQ:HNST - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. The company had revenue of $99.84 million for the quarter, compared to analyst estimates of $96.46 million. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. On average, sell-side analysts forecast that Honest will post -0.07 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Jonathan Mayle sold 37,481 shares of Honest stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $4.87, for a total value of $182,532.47. Following the completion of the transaction, the senior vice president now directly owns 307,740 shares of the company's stock, valued at approximately $1,498,693.80. This trade represents a 10.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Winchell sold 20,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $4.98, for a total value of $99,600.00. Following the sale, the insider now owns 431,844 shares in the company, valued at approximately $2,150,583.12. The trade was a 4.43 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HNST. Ieq Capital LLC raised its position in Honest by 61.3% in the 4th quarter. Ieq Capital LLC now owns 130,651 shares of the company's stock valued at $905,000 after buying an additional 49,673 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Honest in the third quarter valued at about $260,000. Los Angeles Capital Management LLC bought a new position in shares of Honest during the fourth quarter valued at about $819,000. ArrowMark Colorado Holdings LLC boosted its holdings in Honest by 6.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company's stock worth $11,295,000 after purchasing an additional 191,547 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Honest by 298.9% during the third quarter. Barclays PLC now owns 110,386 shares of the company's stock worth $394,000 after purchasing an additional 82,713 shares during the last quarter. 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.