The Honest Company, Inc. (NASDAQ:HNST) Short Interest Update

The Honest Company, Inc. (NASDAQ:HNST) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 1,320,000 shares, an increase of 7.0% from the June 15th total of 1,233,700 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average trading volume of 1,030,000 shares, the short-interest ratio is presently 1.3 days.

Honest Trading Down 9.8 %

Shares of NASDAQ HNST opened at $3.58 on Friday. The firm has a 50-day moving average of $2.84 and a two-hundred day moving average of $3.16. The company has a market capitalization of $353.13 million, a price-to-earnings ratio of -15.56 and a beta of 1.85. Honest has a twelve month low of $1.06 and a twelve month high of $4.89.

Honest (NASDAQ:HNST) last issued its earnings results on Wednesday, May 8th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.07. The firm had revenue of $86.22 million during the quarter, compared to analysts’ expectations of $83.79 million. Honest had a negative net margin of 6.27% and a negative return on equity of 17.44%. As a group, research analysts predict that Honest will post -0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Loop Capital upgraded shares of Honest from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Tuesday, June 25th. Lake Street Capital began coverage on shares of Honest in a report on Thursday, April 4th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $4.00 target price on shares of Honest in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.55.

Insider Buying and Selling at Honest

In related news, SVP Thomas Sternweis sold 10,047 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $2.77, for a total transaction of $27,830.19. Following the completion of the transaction, the senior vice president now directly owns 237,211 shares in the company, valued at approximately $657,074.47. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Honest news, SVP Thomas Sternweis sold 10,047 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $2.77, for a total transaction of $27,830.19. Following the completion of the transaction, the senior vice president now directly owns 237,211 shares of the company’s stock, valued at approximately $657,074.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katherine Barton sold 67,930 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $2.77, for a total transaction of $188,166.10. Following the completion of the sale, the insider now owns 933,005 shares in the company, valued at approximately $2,584,423.85. The disclosure for this sale can be found here. Insiders sold a total of 137,160 shares of company stock worth $379,933 over the last ninety days. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

A number of hedge funds have recently modified their holdings of HNST. EntryPoint Capital LLC purchased a new position in Honest in the 1st quarter worth about $27,000. Lazard Asset Management LLC acquired a new stake in shares of Honest during the first quarter valued at approximately $52,000. SG Americas Securities LLC purchased a new stake in shares of Honest in the 1st quarter valued at approximately $93,000. Echo Wealth Management LLC acquired a new position in Honest in the 1st quarter worth approximately $101,000. Finally, Raymond James & Associates grew its position in Honest by 62.6% during the 4th quarter. Raymond James & Associates now owns 34,511 shares of the company’s stock worth $114,000 after purchasing an additional 13,285 shares in the last quarter. 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.