Honest (NASDAQ:HNST) Reaches New 1-Year Low Following Analyst Downgrade

The Honest Company, Inc. (NASDAQ:HNST)’s stock price hit a new 52-week low during trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $12.00 to $10.00. The stock traded as low as $6.72 and last traded at $6.77, with a volume of 4074 shares changing hands. The stock had previously closed at $6.83.

Separately, Zacks Investment Research upgraded shares of Honest from a “sell” rating to a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.05.

In related news, CRO Rick Rexing sold 3,438 shares of the stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $10.00, for a total transaction of $34,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Brendan Sheehey sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $10.00, for a total transaction of $50,000.00. The disclosure for this sale can be found here. Insiders sold a total of 555,775 shares of company stock valued at $4,647,684 in the last ninety days.

A number of large investors have recently bought and sold shares of HNST. FMR LLC purchased a new stake in Honest during the second quarter valued at approximately $114,788,000. BlackRock Inc. purchased a new position in shares of Honest in the second quarter worth $107,115,000. ICONIQ Capital LLC purchased a new position in shares of Honest in the second quarter worth $44,249,000. Vanguard Group Inc. purchased a new position in shares of Honest in the second quarter worth $38,811,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Honest in the second quarter worth $36,196,000. 65.63% of the stock is owned by institutional investors.

The stock’s fifty day simple moving average is $8.15 and its 200-day simple moving average is $10.63. The company has a quick ratio of 2.76, a current ratio of 4.34 and a debt-to-equity ratio of 0.21.

Honest (NASDAQ:HNST) last released its quarterly earnings data on Wednesday, November 10th. The company reported ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.06). The business had revenue of $82.65 million during the quarter, compared to analyst estimates of $80.92 million. As a group, sell-side analysts expect that The Honest Company, Inc. will post -0.41 EPS for the current year.

About Honest (NASDAQ:HNST)

The Honest Company, Inc manufactures and sells baby, personal, and beauty care products. It offers products in the areas of diapers, bath, body, beauty, cleaning, gifts, kids, and clothing. The company serves customers through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.

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