Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. The Honest Company Inc. Common Stock shares valued at $4,438 were sold by Hoyt Janis on Sep 01. At $3.55 per share, Hoyt Janis sold 1,250 shares. The insider’s holdings dropped to 351,296 shares worth approximately $1.3 million following the completion of this transaction.
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Also, Rexing Rick sold 4,143 shares, netting a total of over 15,288 in proceeds. Following the sale of shares at $3.69 each, the insider now holds 350,040 shares.
Before that, Vlahos Nikolaos A had sold 16,804 shares from its account. In a trade valued at $62,847, the Chief Executive Officer traded The Honest Company Inc. Common Stock shares for $3.74 each. Upon closing the transaction, the insider’s holdings decreased to 16,804 shares, worth approximately $4.69 million.
As published in a research note from Loop Capital on June 09, 2022, The Honest Company Inc. Common Stock [HNST] has been rated down from a Buy to a Hold and the price target has been revised to $3 from $5. This represents a -23.67% premium over Thursday’s closing price. Analysts at BofA Securities downgraded the stock from ‘”a Neutral”‘ to ‘”an Underperform”‘ outlook in a report released in late March. As of March 25, 2022, Jefferies has decreased its “Buy” rating to a “Hold” for HNST. Earlier on March 25, 2022, Guggenheim downgraded its rating. Their new recommendation was “a Neutral” for HNST stock which previously was a “a Buy”.
Analyzing HNST’s Price Performance
On Thursday, The Honest Company Inc. Common Stock [NASDAQ: HNST] plunged -3.13% to $3.71. The stock’s lowest price that day was $3.63, but it reached a high of $3.855 in the same session. During the last five days, there has been a drop of approximately -9.73%. Over the course of the year, The Honest Company Inc. Common Stock shares have dropped approximately -54.14%. Shares of the company reached a 52-week high of $8.28 on 01/03/22 and a 52-week low of $2.54 on 06/16/22. A 50-day SMA is recorded $3.75, while a 200-day SMA reached $4.77. Nevertheless, trading volume fell to 2.09 million shares from 1.4 million shares the previous day.
Support And Resistance Levels for The Honest Company Inc. Common Stock (HNST)
According to the 24-hour chart, there is a support level at 3.61, which, if violated, would cause prices to drop to 3.51. In the upper region, resistance lies at 3.83. The next price resistance is at 3.96. RSI (Relative Strength Index) is 46.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.18, which suggests the price will decrease in the coming days. Percent R is at 68.70%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is The Honest Company Inc. Common Stock subject to short interest?
Stocks of The Honest Company Inc. Common Stock saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.83 million shares to 4.23 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.06 million shares. A decline of -19.62% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.9 of the overall float, the days-to-cover ratio (short ratio) decline to 2.9.
Which companies own the most shares of The Honest Company Inc. Common Stock (HNST)?
According to BlackRock Fund Advisors filings, the company currently owns 3,948,842 shares, which is about 4.27% of the total HNST shares outstanding. The investor’s shares have plunged by -71,681 from its previous 13-F filing of 4020523.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $10,945,191. Columbia Management Investment Ad acquire a 56.96% interest valued at $7.67 million while Renaissance Technologies LLC purchased a 1,397,880 stake. A total of 1,270,319 shares of The Honest Company Inc. Common Stock were bought by Norges Bank Investment Management during the quarter, and 912,892 were bought by Marshall Wace LLP. In its current portfolio, Two Sigma Investments LP holds 1,326,059 shares valued at $4.79 million.
In terms of The Honest Company Inc. Common Stock share price expectations, FactSet research, analysts set an average price target of $4.83 in the next 12 months, up nearly 4.44% from the previous closing price of $3.83. Analysts anticipate The Honest Company Inc. Common Stock stock to reach $8.00 by 2022, with the lowest price target being $3.00. In spite of this, 7 analysts ranked The Honest Company Inc. Common Stock stock as an Overweight at the end of 2022. On August 16, 2021, Guggenheim assigned a price target of “a Buy” to the stock and upgraded coverage with a $14.