Honest (NASDAQ:HNST) Shares Down 5.3% – Time to Sell?

The Honest Company, Inc. (NASDAQ:HNST)’s share price fell 5.3% during trading on Wednesday . The stock traded as low as $7.13 and last traded at $7.15. 1,169,200 shares traded hands during trading, a decline of 26% from the average session volume of 1,590,511 shares. The stock had previously closed at $7.55.

Analyst Ratings Changes

Several equities analysts have issued reports on HNST shares. Northland Securities boosted their price objective on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. B. Riley boosted their price target on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Alliance Global Partners raised their price objective on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Telsey Advisory Group lifted their price objective on Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.21.

Honest Stock Down 2.6 %

The firm’s 50 day simple moving average is $5.40 and its 200-day simple moving average is $4.13. The company has a market capitalization of $742.06 million, a PE ratio of -188.75 and a beta of 2.40.

Insider Buying and Selling at Honest

In other news, EVP Stephen Winchell sold 7,123 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction of $50,573.30. Following the completion of the sale, the executive vice president now directly owns 382,613 shares in the company, valued at $2,716,552.30. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total value of $8,050,000.00. Following the completion of the transaction, the insider now owns 9,869,803 shares in the company, valued at approximately $34,544,310.50. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,634,818 shares of company stock valued at $10,514,671 over the last 90 days. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Honest

Several institutional investors and hedge funds have recently made changes to their positions in HNST. Dynamic Technology Lab Private Ltd raised its holdings in Honest by 7.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock valued at $288,000 after acquiring an additional 5,330 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Honest by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock valued at $805,000 after purchasing an additional 7,379 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Honest by 6.4% during the second quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock worth $402,000 after purchasing an additional 8,282 shares during the last quarter. Zacks Investment Management acquired a new position in Honest in the third quarter worth about $37,000. Finally, Creative Planning bought a new stake in Honest in the third quarter valued at about $39,000. 45.54% of the stock is currently owned by hedge funds and other 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.