Honest (NASDAQ:HNST) Trading Down 5.7% – Should You Sell?

The Honest Company, Inc. (NASDAQ:HNST) shares fell 5.7% during trading on Tuesday . The company traded as low as $6.26 and last traded at $6.21. 535,942 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 2,140,947 shares. The stock had previously closed at $6.58.

Analysts Set New Price Targets

Several brokerages have issued reports on HNST. Telsey Advisory Group lifted their price target on Honest from $6.00 to $7.00 and gave the stock a “market perform” rating in a research note on Friday, January 10th. Northland Securities upped their target price on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. B. Riley increased their price target on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a report on Tuesday, December 17th. Finally, Alliance Global Partners increased their target price on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.93.

Honest Trading Down 7.8 %

The business’s 50 day moving average price is $7.08 and its two-hundred day moving average price is $4.95. The stock has a market cap of $612.32 million, a P/E ratio of -151.48 and a beta of 2.45.

Insider Buying and Selling at Honest

In other news, Director Jessica Warren sold 465,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total value of $3,510,750.00. Following the sale, the director now directly owns 1,170,058 shares of the company’s stock, valued at $8,833,937.90. This represents a 28.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carla Vernon sold 65,176 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction of $462,749.60. Following the completion of the transaction, the chief executive officer now owns 2,763,143 shares of the company’s stock, valued at approximately $19,618,315.30. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 799,818 shares of company stock valued at $5,975,421. 8.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd increased its holdings in shares of Honest by 7.1% during 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 holdings in Honest by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock worth $805,000 after buying an additional 7,379 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Honest by 6.4% in the second quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock worth $402,000 after buying an additional 8,282 shares in the last quarter. Zacks Investment Management bought a new stake in shares of Honest during the third quarter valued at approximately $37,000. Finally, Creative Planning purchased a new position in Honest in the 3rd quarter worth approximately $39,000. Institutional investors 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.