Honest (NASDAQ:HNST) Sets New 1-Year High – Here’s What Happened

The Honest Company, Inc. (NASDAQ:HNST) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $5.96 and last traded at $5.9340, with a volume of 401586 shares changing hands. The stock had previously closed at $5.85.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HNST shares. Telsey Advisory Group upped their price target on shares of Honest from $4.00 to $5.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Alliance Global Partners reiterated a “buy” rating on shares of Honest in a report on Thursday, August 6th. Morgan Stanley boosted their price objective on Honest from $3.40 to $5.70 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded Honest from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Northland Securities set a $5.50 price target on Honest in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.84.

Honest Stock Up 1.3%

The business has a 50-day simple moving average of $4.45 and a 200-day simple moving average of $3.59. The company has a market cap of $652.22 million, a PE ratio of -53.86 and a beta of 2.24.

Honest (NASDAQ:HNST) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. Honest had a negative net margin of 3.56% and a positive return on equity of 4.31%. The company had revenue of $80.19 million for the quarter, compared to analyst estimates of $77.83 million. As a group, equities research analysts predict that The Honest Company, Inc. will post 0.05 EPS for the current fiscal year.

Insider Activity at Honest

In other Honest news, SVP Jonathan Mayle sold 79,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $5.22, for a total value of $412,380.00. Following the sale, the senior vice president directly owned 370,155 shares of the company’s stock, valued at approximately $1,932,209.10. This represents a 17.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Brendan Sheehey sold 9,664 shares of Honest stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $4.99, for a total transaction of $48,223.36. Following the sale, the general counsel directly owned 706,224 shares of the company’s stock, valued at approximately $3,524,057.76. This trade represents a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 294,149 shares of company stock worth $1,503,306 over the last ninety days. 9.40% of the stock is currently owned by insiders.

Institutional Trading of Honest

Institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP purchased a new stake in Honest in the second quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd grew its position in shares of Honest by 1,392.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 7,073 shares of the company’s stock worth $26,000 after acquiring an additional 6,599 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Honest during the second quarter worth approximately $36,000. Equity Wealth Partners LLC acquired a new position in shares of Honest in the 3rd quarter valued at $37,000. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Honest in the 3rd quarter valued at $39,000. 45.54% of the stock is owned by hedge funds and other institutional investors.

Honest Company Profile

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.