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

The Honest Company, Inc. (NASDAQ:HNST) saw 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. Based on an average daily trading volume, of 3,330,000 shares, the days-to-cover ratio is currently 1.1 days. Approximately 4.9% of the company’s shares are sold short.

Honest Trading Up 3.3 %

Shares of Honest stock opened at $6.31 on Thursday. The company has a 50 day moving average of $6.91 and a 200 day moving average of $4.85. Honest has a 52-week low of $2.40 and a 52-week high of $8.97.

Analysts Set New Price Targets

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

Insider Activity at Honest

In other news, General Counsel Brendan Sheehey sold 8,392 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total value of $59,583.20. Following the completion of the transaction, the general counsel now directly owns 516,816 shares of the company’s stock, valued at approximately $3,669,393.60. The trade was a 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Stephen Winchell sold 7,123 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total transaction of $50,573.30. Following the sale, the executive vice president now directly owns 382,613 shares of the company’s stock, valued at approximately $2,716,552.30. The trade was a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 799,818 shares of company stock worth $5,975,421 in the last 90 days. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Honest

A number of hedge funds have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. grew its position in Honest by 216.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,323 shares of the company’s stock worth $1,947,000 after buying an additional 372,749 shares during the period. Walleye Capital LLC purchased a new position in Honest during the third quarter worth about $260,000. Harbor Capital Advisors Inc. boosted its position in shares of Honest by 122.5% in the third quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company’s stock worth $784,000 after acquiring an additional 120,937 shares during the last quarter. Mainstream Capital Management LLC acquired a new stake in shares of Honest during the 3rd quarter worth $843,000. Finally, Inspire Investing LLC purchased a new position in shares of Honest in the 3rd quarter worth about $806,000. 45.54% of the stock is owned by institutional investors and hedge funds.

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.