Honest (NASDAQ:HNST) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

The Honest Company, Inc. (NASDAQ:HNST) shares passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $5.11 and traded as high as $5.21. Honest shares last traded at $5.17, with a volume of 3,637,828 shares trading hands.

Wall Street Analyst Weigh In

HNST has been the subject of a number of recent analyst reports. B. Riley Financial restated a “buy” rating and set a $5.50 price objective (up from $5.00) on shares of Honest in a research note on Friday. Telsey Advisory Group upped their target price on Honest from $4.00 to $5.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Freedom Capital upgraded Honest from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Morgan Stanley raised their price target on shares of Honest from $3.40 to $5.70 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of Honest from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.42.

Honest Stock Performance

The firm has a market cap of $569.11 million, a price-to-earnings ratio of 7.49 and a beta of 2.48. The business’s 50 day moving average price is $5.11 and its 200-day moving average price is $3.83.

Honest (NASDAQ:HNST) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.03 EPS for the quarter. The business had revenue of $84.61 million for the quarter, compared to analysts’ expectations of $80.79 million. Honest had a negative net margin of 3.56% and a positive return on equity of 4.31%. On average, analysts forecast that The Honest Company, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Transactions at Honest

In other Honest news, SVP Jonathan Mayle sold 6,161 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $4.99, for a total transaction of $30,743.39. Following the sale, the senior vice president owned 363,994 shares in the company, valued at $1,816,330.06. This represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dorria Ball sold 6,812 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $4.99, for a total value of $33,991.88. Following the transaction, the insider directly owned 418,584 shares in the company, valued at approximately $2,088,734.16. This represents a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 150,854 shares of company stock worth $752,853. 9.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Honest

Several institutional investors and hedge funds have recently made changes to their positions in HNST. Harbour Investments Inc. lifted its stake in Honest by 12.8% during the third quarter. Harbour Investments Inc. now owns 27,763 shares of the company’s stock worth $142,000 after purchasing an additional 3,155 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Honest by 155.0% in the third quarter. Russell Investments Group Ltd. now owns 108,892 shares of the company’s stock worth $559,000 after purchasing an additional 66,194 shares during the period. Knights of Columbus Asset Advisors LLC increased its stake in Honest by 0.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 520,924 shares of the company’s stock valued at $2,672,000 after purchasing an additional 2,439 shares during the last quarter. Vise Technologies Inc. increased its stake in Honest by 10.0% during the third quarter. Vise Technologies Inc. now owns 44,272 shares of the company’s stock valued at $227,000 after purchasing an additional 4,020 shares during the last quarter. Finally, State of Wyoming raised its holdings in shares of Honest by 488.4% during the third quarter. State of Wyoming now owns 120,765 shares of the company’s stock worth $620,000 after purchasing an additional 100,241 shares during the period. 45.54% of the stock is owned by institutional investors and hedge funds.

About Honest

The Honest Company, Inc is a consumer products company that develops and sells personal care, beauty, baby, and household products. Its offerings include diapers, wipes, baby care items, skin care, hair care, personal care products, and household cleaning solutions, with an emphasis on ingredient transparency and products positioned as safer and more sustainable alternatives.

Founded in 2011 by actress and entrepreneur Jessica Alba, Honest sells its products through its website and retail partners.