Honest (NASDAQ:HNST) Stock Rating Lowered by Zacks Research

Honest (NASDAQ:HNST) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Several other research analysts have also issued reports on HNST. Telsey Advisory Group lowered their target price on Honest from $6.00 to $3.00 and set a “market perform” rating for the company in a research report on Thursday. Lake Street Capital cut Honest from a “buy” rating to a “hold” rating and set a $3.00 price target for the company. in a research note on Thursday. Morgan Stanley lowered their price objective on Honest from $5.50 to $4.25 and set an “equal weight” rating for the company in a research report on Friday, August 15th. B. Riley reiterated a “buy” rating on shares of Honest in a report on Thursday. Finally, Weiss Ratings downgraded shares of Honest from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.96.

Honest Price Performance

NASDAQ HNST traded up $0.33 during trading hours on Thursday, reaching $2.66. The company’s stock had a trading volume of 12,924,912 shares, compared to its average volume of 4,667,960. The firm has a fifty day simple moving average of $3.70 and a 200-day simple moving average of $4.33. Honest has a 52 week low of $2.31 and a 52 week high of $8.97. The stock has a market cap of $295.98 million, a P/E ratio of 44.33 and a beta of 2.28.

Honest (NASDAQ:HNST) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. The firm had revenue of $92.57 million during the quarter, compared to analysts’ expectations of $99.43 million. Honest had a net margin of 1.85% and a return on equity of 3.92%. Honest has set its FY 2025 guidance at EPS. On average, research analysts expect that Honest will post -0.07 earnings per share for the current year.

Insider Buying and Selling at Honest

In related news, General Counsel Brendan Sheehey sold 12,059 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total transaction of $44,015.35. Following the completion of the sale, the general counsel owned 568,588 shares in the company, valued at approximately $2,075,346.20. This represents a 2.08% 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 99,328 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $3.65, for a total transaction of $362,547.20. Following the completion of the sale, the chief executive officer owned 2,998,993 shares of the company’s stock, valued at approximately $10,946,324.45. The trade was a 3.21% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 131,890 shares of company stock worth $481,399. 8.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Honest

Hedge funds have recently made changes to their positions in the stock. Summit Securities Group LLC boosted its position in shares of Honest by 6,101.8% in the first quarter. Summit Securities Group LLC now owns 6,822 shares of the company’s stock valued at $32,000 after acquiring an additional 6,712 shares during the period. Strategic Blueprint LLC purchased a new stake in Honest in the 2nd quarter worth approximately $52,000. DRW Securities LLC purchased a new stake in Honest in the 1st quarter worth approximately $58,000. State of Wyoming bought a new position in Honest in the 2nd quarter valued at $61,000. Finally, Ethos Financial Group LLC purchased a new position in shares of Honest during the 2nd quarter valued at $62,000. 45.54% of the stock is currently owned by hedge funds and other 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.