Honest's (HNST) "Market Perform" Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Honest (NASDAQ:HNST - Free Report) in a research note released on Wednesday morning,Benzinga reports. They currently have a $7.00 target price on the stock.

Honest Price Performance

NASDAQ HNST traded up $0.16 during mid-day trading on Wednesday, reaching $4.99. 1,437,832 shares of the stock were exchanged, compared to its average volume of 2,178,213. The stock has a market cap of $550.05 million, a P/E ratio of -124.75 and a beta of 2.44. Honest has a one year low of $2.40 and a one year high of $8.97. The stock has a 50 day simple moving average of $4.78 and a 200-day simple moving average of $5.70.

Honest (NASDAQ:HNST - Get Free Report) last posted its quarterly earnings data 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. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. The firm had revenue of $99.84 million during the quarter, compared to analyst estimates of $96.46 million. Sell-side analysts anticipate that Honest will post -0.07 EPS for the current fiscal year.

Insider Activity at Honest

In other news, insider Stephen Winchell sold 20,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were 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. This represents a 4.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jonathan Mayle sold 37,481 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were 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 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. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Honest

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Honest by 25.7% during the fourth quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company's stock worth $35,671,000 after buying an additional 1,052,305 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Honest by 98.8% in the 1st quarter. Victory Capital Management Inc. now owns 3,073,471 shares of the company's stock worth $14,445,000 after acquiring an additional 1,527,080 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in Honest by 589.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company's stock valued at $16,616,000 after acquiring an additional 2,049,981 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Honest by 20.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,372,200 shares of the company's stock valued at $16,439,000 after purchasing an additional 398,603 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Honest by 103.5% during the 4th quarter. Nuveen Asset Management LLC now owns 2,046,868 shares of the company's stock worth $14,185,000 after purchasing an additional 1,041,040 shares in the last quarter. 45.54% of the stock is owned by institutional investors and hedge funds.

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.