Honest (NASDAQ:HNST) Earns "Market Perform" Rating from Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Honest (NASDAQ:HNST - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. Telsey Advisory Group currently has a $7.00 target price on the stock.

Honest Stock Performance

Shares of NASDAQ:HNST traded down $0.04 on Wednesday, hitting $4.96. The company's stock had a trading volume of 557,748 shares, compared to its average volume of 2,176,882. Honest has a 12 month low of $2.40 and a 12 month high of $8.97. The stock's 50-day moving average is $4.78 and its two-hundred day moving average is $5.72. The company has a market capitalization of $546.19 million, a price-to-earnings ratio of -123.88 and a beta of 2.44.

Honest (NASDAQ:HNST - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $99.84 million for the quarter, compared to analysts' expectations of $96.46 million. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. Equities analysts expect that Honest will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Honest

In other news, insider Stephen Winchell sold 20,000 shares of Honest stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $4.98, for a total transaction of $99,600.00. Following the transaction, the insider now owns 431,844 shares in the company, valued at approximately $2,150,583.12. The trade was a 4.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan Mayle sold 37,481 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $4.87, for a total value of $182,532.47. Following the completion of the sale, the senior vice president now directly owns 307,740 shares of the company's stock, valued at approximately $1,498,693.80. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On Honest

Large investors have recently made changes to their positions in the business. Bailard Inc. acquired a new position in Honest in the 1st quarter valued at approximately $78,000. Victory Capital Management Inc. boosted its holdings in Honest by 98.8% in the first quarter. Victory Capital Management Inc. now owns 3,073,471 shares of the company's stock worth $14,445,000 after purchasing an additional 1,527,080 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Honest in the first quarter worth about $90,000. Bank of New York Mellon Corp increased its holdings in shares of Honest by 138.2% during the 1st quarter. Bank of New York Mellon Corp now owns 899,726 shares of the company's stock valued at $4,229,000 after acquiring an additional 522,002 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Honest by 57.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,757 shares of the company's stock valued at $83,000 after acquiring an additional 6,513 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.