Honest (NASDAQ:HNST) Shares Up 3.5% – What’s Next?

The Honest Company, Inc. (NASDAQ:HNST) shot up 3.5% during mid-day trading on Thursday . The company traded as high as $6.54 and last traded at $6.53. 179,942 shares traded hands during trading, a decline of 91% from the average session volume of 2,105,862 shares. The stock had previously closed at $6.31.

Wall Street Analysts Forecast Growth

HNST has been the topic of a number of research analyst reports. Alliance Global Partners lifted their target price on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. B. Riley lifted 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. Telsey Advisory Group lifted their target price on Honest from $6.00 to $7.00 and gave the stock a “market perform” rating in a research report on Friday, January 10th. Northland Securities lifted their target price on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Honest has a consensus rating of “Moderate Buy” and an average target price of $6.93.

Honest Trading Up 1.3 %

The business has a 50 day moving average of $6.96 and a 200-day moving average of $4.86. The stock has a market cap of $645.64 million, a PE ratio of -159.88 and a beta of 2.45.

Insider Activity at Honest

In other Honest news, General Counsel Brendan Sheehey sold 92,138 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $8.13, for a total value of $749,081.94. Following the completion of the transaction, the general counsel now directly owns 516,816 shares in the company, valued at approximately $4,201,714.08. The trade was a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jessica Warren sold 465,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total value 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 trade represents a 28.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 799,818 shares of company stock valued at $5,975,421. 8.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Honest by 216.0% in 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 during the period. Walleye Capital LLC purchased a new position in shares of Honest in the 3rd quarter worth $260,000. Harbor Capital Advisors Inc. raised its position in shares of Honest by 122.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company’s stock worth $784,000 after buying an additional 120,937 shares during the period. Mainstream Capital Management LLC purchased a new position in shares of Honest in the 3rd quarter worth $843,000. Finally, Inspire Investing LLC purchased a new position in shares of Honest in the 3rd quarter worth $806,000. 45.54% of the stock is currently 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.