Short Interest in The Honest Company, Inc. (NASDAQ:HNST) Grows By 37.2%

The Honest Company, Inc. (NASDAQ:HNSTGet Free Report) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 3,540,000 shares, an increase of 37.2% from the December 15th total of 2,580,000 shares. Based on an average daily trading volume, of 3,330,000 shares, the days-to-cover ratio is currently 1.1 days. Currently, 4.9% of the shares of the stock are short sold.

Insider Buying and Selling at Honest

In other Honest news, EVP Stephen Winchell sold 7,123 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total value of $50,573.30. Following the sale, the executive vice president now owns 382,613 shares in the company, valued at $2,716,552.30. The trade was a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jessica Warren sold 465,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 1,170,058 shares of the company’s stock, valued at approximately $8,833,937.90. The trade was a 28.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 799,818 shares of company stock valued at $5,975,421 in the last three months. 8.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Zacks Investment Management purchased a new position in Honest during the 3rd quarter valued at $37,000. Creative Planning purchased a new stake in shares of Honest during the third quarter valued at $39,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Honest in the third quarter worth about $40,000. Castleview Partners LLC purchased a new position in Honest in the 3rd quarter worth about $71,000. Finally, US Bancorp DE bought a new stake in Honest during the 3rd quarter valued at about $78,000. Institutional investors own 45.54% of the company’s stock.

Honest Trading Up 2.8 %

Shares of NASDAQ:HNST opened at $6.58 on Friday. The company has a market capitalization of $664.32 million, a price-to-earnings ratio of -164.50 and a beta of 2.45. Honest has a 12 month low of $2.40 and a 12 month high of $8.97. The firm’s 50-day moving average is $7.00 and its 200 day moving average is $4.87.

Analysts Set New Price Targets

A number of research analysts have recently commented on HNST shares. B. Riley increased their target price on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Alliance Global Partners lifted their price objective on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Loop Capital cut shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research report on Tuesday, December 17th. Northland Securities increased their price target on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Telsey Advisory Group boosted their price objective on Honest from $6.00 to $7.00 and gave the stock a “market perform” rating in a research note on Friday, January 10th. Three equities research 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 MarketBeat, Honest presently has an average rating of “Moderate Buy” and an average target price of $6.93.

Check Out Our Latest Stock Analysis on Honest

Honest Company Profile

(Get Free Report)

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.

Further Reading

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