The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 3,540,000 shares, an increase of 37.2% from the December 31st total of 2,580,000 shares. Based on an average daily trading volume, of 3,330,000 shares, the short-interest ratio is currently 1.1 days. Currently, 4.9% of the company's stock are short sold.
Honest Stock Up 6.9 %
Shares of HNST stock traded up $0.44 during mid-day trading on Thursday, reaching $6.72. 1,405,953 shares of the stock traded hands, compared to its average volume of 2,249,758. The company has a market cap of $678.05 million, a price-to-earnings ratio of -168.13 and a beta of 2.45. The stock's fifty day simple moving average is $7.02 and its two-hundred day simple moving average is $5.09. Honest has a 1-year low of $2.40 and a 1-year high of $8.97.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on HNST shares. B. Riley increased their price target on Honest from $6.50 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Northland Securities increased their price target on Honest from $7.50 to $9.50 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Loop Capital lowered shares of 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 boosted their price target on Honest from $5.75 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Telsey Advisory Group raised their price objective on Honest from $6.00 to $7.00 and gave the company a "market perform" rating in a research note on Friday, January 10th. Three equities research 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. According to MarketBeat.com, Honest has an average rating of "Moderate Buy" and an average target price of $6.93.
Read Our Latest Stock Analysis on HNST
Insider Transactions at Honest
In related news, General Counsel Brendan Sheehey sold 8,392 shares of the firm's stock in a transaction 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 completion of the transaction, the general counsel now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jessica Warren sold 465,000 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the sale, the director now directly owns 1,170,058 shares in the company, valued at $8,833,937.90. This trade represents a 28.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 799,818 shares of company stock worth $5,975,421 in the last three months. Insiders own 8.60% of the company's stock.
Hedge Funds Weigh In On Honest
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. raised its position in shares of Honest by 1,504.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company's stock worth $3,040,000 after acquiring an additional 798,384 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Honest by 377.8% during the third quarter. JPMorgan Chase & Co. now owns 773,806 shares of the company's stock worth $2,762,000 after purchasing an additional 611,844 shares during the period. Dimensional Fund Advisors LP lifted its stake in Honest by 68.1% in the second quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company's stock valued at $2,755,000 after buying an additional 382,418 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Honest by 216.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,323 shares of the company's stock worth $1,947,000 after buying an additional 372,749 shares in the last quarter. Finally, Mainstream Capital Management LLC bought a new stake in shares of Honest in the 3rd quarter valued at $843,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.
Honest Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Honest, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Honest wasn't on the list.
While Honest currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
