The Honest Company, Inc. (NASDAQ:HNST) Short Interest Down 10.2% in March

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,150,000 shares, a drop of 10.2% from the March 15th total of 1,280,000 shares. Approximately 2.0% of the company's shares are short sold. Based on an average trading volume of 977,600 shares, the days-to-cover ratio is currently 1.2 days.

Honest Stock Down 3.4 %

Shares of Honest stock traded down $0.11 during trading on Monday, reaching $3.14. The company's stock had a trading volume of 722,244 shares, compared to its average volume of 981,394. Honest has a 12-month low of $1.06 and a 12-month high of $4.89. The company has a market capitalization of $304.67 million, a P/E ratio of -7.48 and a beta of 1.82. The business has a 50 day moving average price of $3.68 and a 200-day moving average price of $2.68.

Honest (NASDAQ:HNST - Get Free Report) last posted its earnings results on Wednesday, March 6th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.09. Honest had a negative return on equity of 30.36% and a negative net margin of 11.39%. The company had revenue of $90.26 million for the quarter, compared to the consensus estimate of $83.54 million. Research analysts predict that Honest will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Honest news, General Counsel Brendan Sheehey sold 21,152 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $3.24, for a total value of $68,532.48. Following the completion of the sale, the general counsel now directly owns 534,620 shares of the company's stock, valued at approximately $1,732,168.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Honest news, EVP Stephen Winchell sold 19,665 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $3.24, for a total value of $63,714.60. Following the sale, the executive vice president now owns 428,957 shares of the company's stock, valued at approximately $1,389,820.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Brendan Sheehey sold 21,152 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $3.24, for a total value of $68,532.48. Following the completion of the sale, the general counsel now directly owns 534,620 shares in the company, valued at approximately $1,732,168.80. The disclosure for this sale can be found here. Insiders sold 273,301 shares of company stock valued at $1,077,922 in the last three months. 26.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Honest

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Honest by 2.8% in the third quarter. BlackRock Inc. now owns 4,582,708 shares of the company's stock worth $16,040,000 after buying an additional 125,362 shares during the period. Vanguard Group Inc. raised its stake in Honest by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 2,582,901 shares of the company's stock valued at $8,524,000 after buying an additional 149,711 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its stake in Honest by 46.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,035,000 shares of the company's stock valued at $6,125,000 after buying an additional 649,000 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Honest by 386.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,759,900 shares of the company's stock worth $5,139,000 after purchasing an additional 1,397,880 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Honest by 50.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,451,038 shares of the company's stock worth $2,612,000 after purchasing an additional 484,772 shares during the period. 45.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Lake Street Capital initiated coverage on Honest in a research report on Thursday, April 4th. They issued a "buy" rating and a $6.00 price target on the stock. Morgan Stanley raised their target price on Honest from $1.85 to $4.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 7th. Loop Capital raised their target price on Honest from $4.00 to $5.00 and gave the stock a "hold" rating in a research report on Thursday, March 14th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $4.00 price target on shares of Honest in a research report on Wednesday, April 10th. Finally, Alliance Global Partners began coverage on Honest in a research report on Tuesday, February 6th. They set a "buy" rating and a $5.75 price target on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Honest currently has a consensus rating of "Hold" and an average target price of $4.95.

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.