Honest (NASDAQ:HNST) Shares Up 6.1% – Still a Buy?

Shares of The Honest Company, Inc. (NASDAQ:HNST) shot up 6.1% on Friday . The stock traded as high as $5.33 and last traded at $5.32. 1,609,727 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 2,482,194 shares. The stock had previously closed at $5.01.

Analyst Ratings Changes

Several research firms have weighed in on HNST. Northland Securities boosted their price objective on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 price objective on shares of Honest in a research report on Thursday. Loop Capital cut Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a research report on Tuesday, December 17th. Alliance Global Partners boosted their price objective on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, B. Riley boosted their price objective on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Honest currently has a consensus rating of “Moderate Buy” and an average price target of $6.93.

Honest Trading Up 7.8 %

The business has a 50-day moving average price of $6.27 and a 200 day moving average price of $5.46. The stock has a market cap of $545.19 million, a PE ratio of -135.00 and a beta of 2.43.

Honest (NASDAQ:HNST) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. The firm had revenue of $99.84 million for the quarter, compared to analysts’ expectations of $96.46 million. On average, equities analysts predict that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

Insider Activity at Honest

In related news, Director Jessica Warren sold 465,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the sale, the director now directly owns 1,170,058 shares in the company, valued at approximately $8,833,937.90. The trade was a 28.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Honest

A number of hedge funds and other institutional investors have recently made changes to their positions in HNST. Creative Planning bought a new stake in shares of Honest during the 3rd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Honest during the 3rd quarter valued at $40,000. US Bancorp DE bought a new stake in shares of Honest during the 3rd quarter valued at $78,000. Harbor Capital Advisors Inc. raised its stake in shares of Honest by 122.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company’s stock valued at $784,000 after purchasing an additional 120,937 shares during the period. Finally, Mainstream Capital Management LLC bought a new stake in shares of Honest during the 3rd quarter valued at $843,000. 45.54% of the stock is currently owned by institutional investors.

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.