Honest (NASDAQ:HNST) Shares Gap Down – What’s Next?

The Honest Company, Inc. (NASDAQ:HNST) gapped down before the market opened on Tuesday . The stock had previously closed at $7.43, but opened at $7.16. Honest shares last traded at $7.12, with a volume of 307,646 shares trading hands.

Analyst Ratings Changes

A number of research firms recently commented on HNST. Telsey Advisory Group upped their price objective on Honest from $4.00 to $6.00 and gave the company a “market perform” 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 stock a “buy” rating in a report on Wednesday, November 13th. Loop Capital cut shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a report on Tuesday. Alliance Global Partners increased their price target on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Northland Securities boosted their price objective on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.79.

Honest Stock Down 8.0 %

The firm has a market cap of $658.27 million, a PE ratio of -163.00 and a beta of 2.42. The firm’s fifty day simple moving average is $5.83 and its two-hundred day simple moving average is $4.30.

Insider Activity at Honest

In related news, General Counsel Brendan Sheehey sold 92,138 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $8.13, for a total transaction of $749,081.94. Following the completion of the transaction, the general counsel now owns 516,816 shares in the company, valued at approximately $4,201,714.08. This represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jessica Warren sold 465,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the transaction, the director now directly owns 1,170,058 shares of the company’s stock, valued at $8,833,937.90. The trade was a 28.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 799,818 shares of company stock worth $5,975,421. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Honest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HNST. Franklin Resources Inc. bought a new position in shares of Honest in the 3rd quarter valued at about $164,000. Virtu Financial LLC bought a new position in Honest in the 3rd quarter valued at $219,000. Barclays PLC increased its stake in Honest by 298.9% in the third quarter. Barclays PLC now owns 110,386 shares of the company’s stock worth $394,000 after purchasing an additional 82,713 shares during the period. Geode Capital Management LLC lifted its position in shares of Honest by 3.8% during the third quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock worth $6,468,000 after purchasing an additional 65,995 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of Honest by 14.2% during the third quarter. XTX Topco Ltd now owns 157,363 shares of the company’s stock valued at $562,000 after purchasing an additional 19,566 shares during the period. 45.54% of the stock is owned by institutional investors.

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.