Honest (NASDAQ:HNST) Hits New 1-Year High – Here’s What Happened

The Honest Company, Inc. (NASDAQ:HNST)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $5.86 and last traded at $5.86, with a volume of 1746970 shares traded. The stock had previously closed at $5.51.

Analysts Set New Price Targets

HNST has been the subject of a number of analyst reports. Alliance Global Partners reaffirmed a “buy” rating on shares of Honest in a research report on Thursday, August 6th. Telsey Advisory Group boosted their target price on Honest from $4.00 to $5.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Wall Street Zen raised Honest from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. B. Riley Financial raised their price target on Honest from $4.00 to $5.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Freedom Capital raised Honest from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $4.84.

Honest Price Performance

The company has a market cap of $634.06 million, a P/E ratio of -52.36 and a beta of 2.12. The company’s 50-day moving average is $4.24 and its two-hundred day moving average is $3.46.

Honest (NASDAQ:HNST) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. Honest had a positive return on equity of 4.31% and a negative net margin of 3.56%.The business had revenue of $80.19 million for the quarter, compared to analysts’ expectations of $77.83 million. Equities research analysts anticipate that The Honest Company, Inc. will post 0.05 EPS for the current year.

Insider Activity

In other Honest news, insider Dorria L. Ball sold 6,812 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $4.99, for a total value of $33,991.88. Following the completion of the transaction, the insider owned 418,584 shares of the company’s stock, valued at approximately $2,088,734.16. The trade was a 1.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jonathan Mayle sold 79,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $5.22, for a total transaction of $412,380.00. Following the transaction, the senior vice president owned 370,155 shares in the company, valued at $1,932,209.10. This represents a 17.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 294,149 shares of company stock valued at $1,503,306. Corporate insiders own 9.40% of the company’s stock.

Institutional Trading of Honest

Large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Honest by 6.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,916 shares of the company’s stock valued at $235,000 after purchasing an additional 3,210 shares during the period. Osaic Holdings Inc. raised its stake in Honest by 33.9% during the 2nd quarter. Osaic Holdings Inc. now owns 14,577 shares of the company’s stock valued at $74,000 after buying an additional 3,693 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Honest by 14.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,734 shares of the company’s stock valued at $172,000 after buying an additional 4,378 shares during the period. Wealthfront Advisers LLC lifted its holdings in shares of Honest by 24.0% during the 4th quarter. Wealthfront Advisers LLC now owns 25,177 shares of the company’s stock valued at $65,000 after buying an additional 4,873 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Honest by 1,392.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,073 shares of the company’s stock worth $26,000 after buying an additional 6,599 shares during the last quarter. 45.54% of the stock is currently owned by institutional investors.

About Honest

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.