Honest (NASDAQ:HNST) Shares Up 5.1% - Here's What Happened

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report)'s share price traded up 5.1% during trading on Friday . The company traded as high as $4.59 and last traded at $4.60. 606,197 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 2,529,621 shares. The stock had previously closed at $4.37.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reaffirmed a "market perform" rating and set a $7.00 target price on shares of Honest in a research note on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $7.70.

Honest Stock Performance

The stock has a market capitalization of $534.66 million, a PE ratio of -242.50 and a beta of 2.39. The stock's 50 day moving average is $4.82 and its two-hundred day moving average is $5.51.

Honest (NASDAQ:HNST - Get Free Report) last released 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 return on equity of 0.95% and a negative net margin of 0.38%. The business had revenue of $97.25 million for the quarter, compared to the consensus estimate of $92.46 million. Equities research analysts expect that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Honest news, General Counsel Brendan Sheehey sold 12,017 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total transaction of $63,930.44. Following the transaction, the general counsel now owns 580,647 shares of the company's stock, valued at approximately $3,089,042.04. The trade was a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Carla Vernon sold 98,950 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $5.32, for a total value of $526,414.00. Following the completion of the sale, the chief executive officer now owns 3,098,321 shares of the company's stock, valued at approximately $16,483,067.72. The trade was a 3.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,726 shares of company stock valued at $881,662 in the last 90 days. 8.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Honest during the fourth quarter worth about $26,000. Summit Securities Group LLC grew its stake in shares of Honest by 6,101.8% in the 1st quarter. Summit Securities Group LLC now owns 6,822 shares of the company's stock valued at $32,000 after buying an additional 6,712 shares during the period. New York State Teachers Retirement System acquired a new stake in shares of Honest during the 4th quarter worth approximately $52,000. DRW Securities LLC purchased a new stake in shares of Honest during the 1st quarter valued at approximately $58,000. Finally, Aigen Investment Management LP acquired a new position in Honest in the first quarter valued at approximately $64,000. Institutional investors and hedge funds 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.