The Honest Company, Inc. (NASDAQ:HNST) Short Interest Update

The Honest Company, Inc. (NASDAQ:HNST) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 3,540,000 shares, a growth of 37.2% from the December 15th total of 2,580,000 shares. Currently, 4.9% of the company’s shares are sold short. Based on an average daily volume of 3,330,000 shares, the days-to-cover ratio is currently 1.1 days.

Honest Price Performance

Shares of NASDAQ:HNST opened at $6.58 on Friday. Honest has a 1 year low of $2.40 and a 1 year high of $8.97. The company has a market cap of $664.32 million, a P/E ratio of -164.50 and a beta of 2.45. The stock’s fifty day moving average price is $7.00 and its 200-day moving average price is $4.87.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HNST. Loop Capital cut shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a report on Tuesday, December 17th. Alliance Global Partners upped their price target on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Northland Securities lifted their price objective on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. B. Riley increased their target price on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, 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 report on Friday, January 10th. Three equities research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.93.

Insiders Place Their Bets

In other Honest news, General Counsel Brendan Sheehey sold 107,653 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $7.01, for a total transaction of $754,647.53. Following the completion of the transaction, the general counsel now owns 517,861 shares of the company’s stock, valued at approximately $3,630,205.61. This trade represents a 17.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Carla Vernon sold 65,176 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total transaction of $462,749.60. Following the sale, the chief executive officer now owns 2,763,143 shares in the company, valued at approximately $19,618,315.30. This trade represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 799,818 shares of company stock worth $5,975,421. 8.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Honest

Hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd grew its stake in shares of Honest by 7.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock worth $288,000 after acquiring an additional 5,330 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Honest by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock valued at $805,000 after buying an additional 7,379 shares during the last quarter. XTX Topco Ltd raised its stake in Honest by 6.4% during the 2nd quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock valued at $402,000 after buying an additional 8,282 shares during the last quarter. Zacks Investment Management bought a new position in shares of Honest during the 3rd quarter valued at $37,000. Finally, Creative Planning purchased a new position in shares of Honest in the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.