The Honest Company, Inc. (NASDAQ:HNST) Receives $7.70 Average PT from Brokerages

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $7.70.

Separately, Telsey Advisory Group reissued a "market perform" rating and issued a $7.00 target price on shares of Honest in a research report on Thursday, May 8th.

Honest Trading Down 3.4%

Shares of Honest stock traded down $0.17 during trading on Tuesday, reaching $4.63. The stock had a trading volume of 1,372,423 shares, compared to its average volume of 2,564,500. The stock has a fifty day moving average price of $4.87 and a two-hundred day moving average price of $5.18. The company has a market capitalization of $509.86 million, a price-to-earnings ratio of -230.75 and a beta of 2.35. Honest has a 52 week low of $2.99 and a 52 week high of $8.97.

Honest (NASDAQ:HNST - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. The business had revenue of $97.25 million for the quarter, compared to analysts' expectations of $92.46 million. Honest had a negative return on equity of 0.95% and a negative net margin of 0.38%. On average, equities analysts forecast that Honest will post -0.07 EPS for the current fiscal year.

Insider Activity

In related news, CFO David Loretta sold 34,389 shares of Honest stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $5.32, for a total transaction of $182,949.48. Following the transaction, the chief financial officer owned 883,153 shares of the company's stock, valued at $4,698,373.96. The trade was a 3.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brendan Sheehey sold 12,017 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $5.32, for a total value of $63,930.44. Following the completion of the transaction, the general counsel directly owned 580,647 shares of the company's stock, valued at approximately $3,089,042.04. This represents a 2.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,726 shares of company stock valued at $881,662. Corporate insiders own 8.90% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Summit Securities Group LLC boosted its position in shares of Honest by 6,101.8% during the 1st quarter. Summit Securities Group LLC now owns 6,822 shares of the company's stock valued at $32,000 after acquiring an additional 6,712 shares during the last quarter. DRW Securities LLC purchased a new stake in shares of Honest during the 1st quarter valued at $58,000. Aigen Investment Management LP purchased a new position in Honest in the first quarter worth $64,000. Bailard Inc. bought a new position in Honest in the first quarter valued at $78,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Honest by 57.9% during the first 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 during the last quarter. 45.54% of the stock is owned by institutional investors.

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.