Honest (NASDAQ:HNST) Trading Down 6.3% – Should You Sell?

The Honest Company, Inc. (NASDAQ:HNST)’s share price was down 6.3% during trading on Friday . The stock traded as low as $5.84 and last traded at $5.93. Approximately 646,996 shares traded hands during trading, a decline of 64% from the average daily volume of 1,773,994 shares. The stock had previously closed at $6.33.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HNST shares. Loop Capital downgraded Honest from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a research report on Tuesday, December 17th. Alliance Global Partners increased their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. B. Riley raised their price target on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Northland Securities upped their price objective on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Telsey Advisory Group raised their price objective on Honest from $6.00 to $7.00 and gave the company a “market perform” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.93.

Honest Stock Performance

The company has a market cap of $595.67 million, a P/E ratio of -147.50 and a beta of 2.45. The business has a 50 day moving average price of $6.83 and a two-hundred day moving average price of $4.79.

Insider Buying and Selling at Honest

In related news, EVP Stephen Winchell sold 7,123 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total transaction of $50,573.30. Following the completion of the sale, the executive vice president now directly owns 382,613 shares in the company, valued at $2,716,552.30. This represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Carla Vernon sold 65,176 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total transaction of $462,749.60. Following the sale, the chief executive officer now directly owns 2,763,143 shares of the company’s stock, valued at $19,618,315.30. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 799,818 shares of company stock worth $5,975,421. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Honest

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new position in shares of Honest during the second quarter valued at approximately $695,000. Rhumbline Advisers increased its position in Honest by 2,486.2% during the 2nd quarter. Rhumbline Advisers now owns 104,481 shares of the company’s stock valued at $305,000 after purchasing an additional 100,441 shares during the period. Acadian Asset Management LLC raised its holdings in Honest by 706.1% in the 2nd quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock worth $2,088,000 after purchasing an additional 627,464 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Honest by 41.5% in the 2nd quarter. American Century Companies Inc. now owns 111,141 shares of the company’s stock worth $325,000 after purchasing an additional 32,586 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Honest by 68.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock valued at $2,755,000 after purchasing an additional 382,418 shares in the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.