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

Telsey Advisory Group reiterated their market perform rating on shares of Honest (NASDAQ:HNST - Free Report) in a research report released on Thursday morning,Benzinga reports. Telsey Advisory Group currently has a $7.00 price objective on the stock.

Honest Trading Up 10.5 %

NASDAQ:HNST traded up $0.46 during midday trading on Thursday, hitting $4.84. 5,969,322 shares of the company traded hands, compared to its average volume of 2,236,742. The firm has a market capitalization of $533.55 million, a P/E ratio of -121.00 and a beta of 2.43. The firm's fifty day moving average is $4.73 and its 200-day moving average is $5.75. Honest has a 12-month low of $2.40 and a 12-month high of $8.97.

Honest (NASDAQ:HNST - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The business had revenue of $97.25 million for the quarter, compared to the consensus estimate of $92.46 million. On average, research analysts expect that Honest will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Stephen Winchell sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $4.98, for a total value of $99,600.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan Mayle sold 37,481 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $4.87, for a total value of $182,532.47. Following the transaction, the senior vice president now owns 307,740 shares in the company, valued at $1,498,693.80. The trade was 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.

Institutional Investors Weigh In On Honest

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Honest by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,208,668 shares of the company's stock valued at $24,481,000 after acquiring an additional 61,299 shares in 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 valued at $14,445,000 after purchasing an additional 1,527,080 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Honest by 589.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,397,636 shares of the company's stock worth $16,616,000 after purchasing an additional 2,049,981 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Honest by 20.2% during the fourth 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 in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in Honest by 103.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,046,868 shares of the company's stock worth $14,185,000 after buying an additional 1,041,040 shares in the last quarter. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

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.