The Honest Company, Inc. (NASDAQ:HNST) Short Interest Up 37.2% in January

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

Insider Activity

In other Honest news, General Counsel Brendan Sheehey sold 8,392 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total transaction of $59,583.20. Following the sale, the general counsel now owns 516,816 shares of the company’s stock, valued at approximately $3,669,393.60. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jessica Warren sold 465,000 shares of the business’s stock in a transaction that occurred 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 owns 1,170,058 shares of the company’s stock, valued at $8,833,937.90. This represents a 28.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 799,818 shares of company stock worth $5,975,421. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Honest

Hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its position in Honest by 39.3% during the 4th quarter. New York State Common Retirement Fund now owns 197,346 shares of the company’s stock worth $1,368,000 after purchasing an additional 55,699 shares during the period. Principal Financial Group Inc. acquired a new position in Honest during the fourth quarter worth $756,000. Valmark Advisers Inc. grew its holdings in Honest by 1.7% during the fourth quarter. Valmark Advisers Inc. now owns 163,015 shares of the company’s stock worth $1,130,000 after acquiring an additional 2,735 shares during the period. Rhumbline Advisers raised its position in Honest by 12.0% in the fourth quarter. Rhumbline Advisers now owns 109,943 shares of the company’s stock worth $762,000 after acquiring an additional 11,794 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in Honest in the fourth quarter valued at $52,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Alliance Global Partners boosted their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. B. Riley increased their price objective on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group lifted their target price on shares of Honest from $6.00 to $7.00 and gave the company a “market perform” rating in a report on Friday, January 10th. Northland Securities increased their price target on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a research note on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.93.

Honest Stock Performance

HNST stock opened at $6.41 on Friday. The stock has a market capitalization of $647.16 million, a PE ratio of -160.25 and a beta of 2.45. The company has a fifty day moving average of $6.96 and a 200-day moving average of $5.12. Honest has a one year low of $2.40 and a one year high of $8.97.

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.