Short Interest in The Honest Company, Inc. (NASDAQ:HNST) Increases By 37.2%

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 3,540,000 shares, a growth 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 days-to-cover ratio is presently 1.1 days. Approximately 4.9% of the shares of the stock are sold short.

Insider Buying and Selling

In other Honest news, General Counsel Brendan Sheehey sold 8,392 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total transaction of $59,583.20. Following the sale, the general counsel now directly owns 516,816 shares in the company, valued at $3,669,393.60. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jessica Warren sold 465,000 shares of the business's stock in a transaction that occurred on 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. The trade was a 28.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 799,818 shares of company stock valued at $5,975,421 over the last 90 days. 8.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zacks Investment Management bought a new position in shares of Honest during the third quarter worth about $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 bought a new stake in shares of Honest in the 3rd quarter valued at $40,000. New York State Teachers Retirement System acquired a new stake in shares of Honest during the fourth quarter worth $52,000. Finally, Castleview Partners LLC bought a new position in Honest during the third quarter worth $71,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Honest Stock Up 1.5 %

NASDAQ HNST traded up $0.09 on Tuesday, hitting $6.25. The company's stock had a trading volume of 2,067,803 shares, compared to its average volume of 2,321,879. The firm has a market cap of $631.01 million, a PE ratio of -156.25 and a beta of 2.43. The company's 50-day moving average is $6.87 and its 200 day moving average is $5.18. Honest has a 1-year low of $2.40 and a 1-year high of $8.97.

Wall Street Analyst Weigh In

HNST has been the subject of a number of research analyst reports. Northland Securities boosted their price target on Honest from $7.50 to $9.50 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. 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 report on Tuesday, December 17th. Alliance Global Partners lifted 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 price objective on shares of Honest from $6.00 to $7.00 and gave the company a "market perform" rating in a research note on Friday, January 10th. Finally, B. Riley boosted their target price on shares of Honest from $6.50 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $6.93.

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.