The Honest Company, Inc. (NASDAQ:HNST) Short Interest Update

The Honest Company, Inc. (NASDAQ:HNST) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 3,030,000 shares, an increase of 129.5% from the June 30th total of 1,320,000 shares. Approximately 4.6% of the company’s shares are sold short. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Ratings Changes

Several equities analysts have commented on HNST shares. Lake Street Capital assumed coverage on shares of Honest in a research note on Thursday, April 4th. They issued a “buy” rating and a $6.00 price target on the stock. Loop Capital upgraded shares of Honest from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a report on Tuesday, June 25th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $4.00 price target on shares of Honest in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Honest has a consensus rating of “Moderate Buy” and an average target price of $4.55.

Honest Trading Down 3.7 %

Shares of NASDAQ:HNST traded down $0.15 during midday trading on Friday, hitting $3.88. 1,939,644 shares of the stock were exchanged, compared to its average volume of 1,809,644. Honest has a twelve month low of $1.06 and a twelve month high of $4.89. The company has a 50 day moving average price of $2.94 and a 200-day moving average price of $3.20.

Honest (NASDAQ:HNST) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.07. Honest had a negative return on equity of 17.44% and a negative net margin of 6.27%. The firm had revenue of $86.22 million during the quarter, compared to the consensus estimate of $83.79 million. On average, equities research analysts expect that Honest will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Honest

In other Honest news, CEO Carla Vernon sold 43,317 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $2.77, for a total transaction of $119,988.09. Following the sale, the chief executive officer now owns 2,881,070 shares in the company, valued at approximately $7,980,563.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Katherine Barton sold 67,930 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $2.77, for a total transaction of $188,166.10. Following the completion of the transaction, the insider now owns 933,005 shares in the company, valued at $2,584,423.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Carla Vernon sold 43,317 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $2.77, for a total value of $119,988.09. Following the transaction, the chief executive officer now directly owns 2,881,070 shares of the company’s stock, valued at $7,980,563.90. The disclosure for this sale can be found here. Insiders have sold a total of 137,160 shares of company stock valued at $379,933 over the last quarter. 8.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Honest

A number of institutional investors have recently bought and sold shares of HNST. Hillsdale Investment Management Inc. purchased a new position in shares of Honest in the 1st quarter worth $3,777,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Honest by 973.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 430,090 shares of the company’s stock worth $1,742,000 after purchasing an additional 390,022 shares during the period. Vanguard Group Inc. lifted its stake in shares of Honest by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock valued at $11,549,000 after purchasing an additional 268,600 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Honest during the 2nd quarter worth about $695,000. Finally, Valmark Advisers Inc. acquired a new stake in Honest during the 4th quarter worth approximately $431,000. 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.