The Honest Company, Inc. (NASDAQ:HNST) Short Interest Down 11.1% in October

The Honest Company, Inc. (NASDAQ:HNST) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 2,000,000 shares, a drop of 11.1% from the October 15th total of 2,250,000 shares. Approximately 3.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,620,000 shares, the days-to-cover ratio is currently 1.2 days.

Honest Stock Up 4.2 %

Shares of NASDAQ HNST traded up $0.29 during trading on Monday, reaching $7.20. The company had a trading volume of 8,430,795 shares, compared to its average volume of 1,440,557. Honest has a 12 month low of $1.47 and a 12 month high of $7.38. The stock has a market cap of $726.91 million, a P/E ratio of -172.75 and a beta of 1.85. The company’s fifty day moving average price is $3.96 and its 200-day moving average price is $3.53.

Insider Activity at Honest

In other Honest news, EVP Stephen Winchell sold 6,938 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the transaction, the executive vice president now directly owns 414,736 shares of the company’s stock, valued at $1,775,070.08. This represents a 1.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Loretta sold 75,656 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $323,807.68. Following the completion of the transaction, the chief financial officer now directly owns 987,757 shares in the company, valued at approximately $4,227,599.96. This represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,461,187 shares of company stock valued at $8,739,880. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Honest

Institutional investors have recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new position in Honest in the first quarter valued at approximately $27,000. Zacks Investment Management acquired a new position in Honest during the 3rd quarter valued at about $37,000. Creative Planning purchased a new position in Honest during the 3rd quarter worth $39,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Honest during the 3rd quarter worth approximately $40,000. Finally, Lazard Asset Management LLC bought a new position in Honest during the first quarter valued at about $52,000. Institutional investors own 45.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HNST. Telsey Advisory Group raised their price target on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. B. Riley increased their price target on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Northland Securities lifted their price objective on Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Alliance Global Partners increased their target price on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

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.