Honest (NASDAQ:HNST) Shares Gap Down – Here’s What Happened

The Honest Company, Inc. (NASDAQ:HNST) shares gapped down prior to trading on Thursday . The stock had previously closed at $5.68, but opened at $5.05. Honest shares last traded at $5.00, with a volume of 5,999,045 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HNST shares. Loop Capital cut shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a report on Tuesday, December 17th. Alliance Global Partners lifted 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. Northland Securities boosted their price target on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. B. Riley increased their price objective on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 target price on shares of Honest in a research report on Thursday. Three 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’s stock. According to data from MarketBeat.com, Honest has an average rating of “Moderate Buy” and an average price target of $6.93.

Honest Stock Performance

The firm has a market capitalization of $505.81 million, a P/E ratio of -125.25 and a beta of 2.43. The stock’s 50 day simple moving average is $6.33 and its 200 day simple moving average is $5.44.

Honest (NASDAQ:HNST) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $99.84 million during the quarter, compared to analysts’ expectations of $96.46 million. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. On average, analysts anticipate that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

Insider Transactions at Honest

In other news, Director Jessica Warren sold 465,000 shares of the company’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 sale, the director now directly owns 1,170,058 shares of the company’s stock, valued at $8,833,937.90. This represents a 28.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

Hedge funds and other institutional investors have recently made changes to their positions in the company. Valmark Advisers Inc. boosted its position in Honest by 1.7% during the fourth quarter. Valmark Advisers Inc. now owns 163,015 shares of the company’s stock worth $1,130,000 after purchasing an additional 2,735 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Honest by 6.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,706 shares of the company’s stock worth $324,000 after buying an additional 2,761 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Honest during the 4th quarter valued at approximately $26,000. Dynamic Technology Lab Private Ltd grew its stake in Honest by 7.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock valued at $288,000 after acquiring an additional 5,330 shares during the period. Finally, Legal & General Group Plc increased its holdings in Honest by 30.1% in the 4th quarter. Legal & General Group Plc now owns 26,571 shares of the company’s stock worth $184,000 after acquiring an additional 6,146 shares in the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.