The Honest Company, Inc. (NASDAQ:HNST) Short Interest Down 11.1% in October

The Honest Company, Inc. (NASDAQ:HNST) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 2,000,000 shares, a decrease of 11.1% from the October 15th total of 2,250,000 shares. Based on an average trading volume of 1,620,000 shares, the short-interest ratio is presently 1.2 days. Approximately 3.0% of the company’s shares are short sold.

Insider Buying and Selling at Honest

In other Honest news, CFO David Loretta sold 75,656 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $323,807.68. Following the transaction, the chief financial officer now directly owns 987,757 shares of the company’s stock, valued at $4,227,599.96. This represents a 7.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the completion of the sale, the insider now owns 9,869,803 shares of the company’s stock, 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 have sold 2,461,187 shares of company stock valued at $8,739,880 over the last three months. 8.60% of the stock is owned by company insiders.

Institutional Trading of Honest

A number of institutional investors and hedge funds have recently modified their holdings of the stock. EntryPoint Capital LLC bought a new position in shares of Honest during the 1st quarter valued at about $27,000. Zacks Investment Management bought a new position in Honest in the third quarter valued at approximately $37,000. Creative Planning acquired a new position in shares of Honest in the third quarter valued at approximately $39,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Honest during the third quarter worth $40,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Honest during the first quarter worth $52,000. 45.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HNST has been the subject of a number of research analyst reports. Alliance Global Partners lifted their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Northland Capmk raised Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Northland Securities boosted their price target on shares of Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. B. Riley raised their price objective 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. Finally, Telsey Advisory Group boosted their target price on shares of Honest from $4.00 to $6.00 and gave the stock 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Honest presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Stock Performance

Honest stock traded up $0.29 on Monday, reaching $7.20. The company’s stock had a trading volume of 8,430,795 shares, compared to its average volume of 1,440,557. The business’s fifty day moving average price is $3.96 and its 200 day moving average price is $3.53. Honest has a twelve month low of $1.47 and a twelve month high of $7.38. The company has a market cap of $726.91 million, a price-to-earnings ratio of -172.75 and a beta of 1.85.

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.