How Worried Should Investors Be About The Honest Company Inc. Common Stock (HNST)

The Honest Company Inc. Common Stock (NASDAQ:HNST) does about 992.89K shares in volume on a normal day but saw 614111 shares change hands in Friday trading. The company now has a market cap of 281.89M USD. Its current market price is $3.01, remained unchanged the previous close of $3.01. The 52 week high reached by this stock is $6.16 whilst the lowest price level in 52 weeks is $2.54. The script in recent trading has seen the stock touch a high of $3.0341 and a low of $2.935.

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The Honest Company Inc. Common Stock (HNST) has a 20-day trading average at $3.08 and the current price is -51.14% off the 52-week high compared with 18.50% distance from its 52-week low. The 50-day simple moving average of the closing price is $2.99 and its 200-day simple moving average is $3.29. If we look at the stock’s price movements over the week, volatility stands at 5.44%, which increases to 6.29% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 48.07 to suggest the stock is neutral.

6 analysts observing the The Honest Company Inc. Common Stock (HNST) stock have set the 12-month price targets for the company’s shares at between $3.00 and $6.00. The consensus objective for the share price is $4.25, suggesting that the stock has a potential upside of 29.18% over the period. The median price target is 19.73% away from the current levels at $3.75.

FactSet Research has provided data showing that 6 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 3 analysts have rated it as a buy and 3 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on June 09, 2022 when Loop Capital downgraded the stock to “Hold” and issued a price target of between $5 and $3. BofA Securities also downgraded the stock to “Underperform” from Neutral on March 28, 2022 at a price target of $13-$6.50. Jefferies downgraded its price target at $11-$5.

The current price level is -1.91%, 0.78%, and -8.73% away from its SMA20, SMA50, and SMA200 respectively, with the HNST price moving above the 50-day SMA on February 17. The Honest Company Inc. Common Stock (HNST) stock is up 4.51% over the week and 5.24% over the past month. Its price is 0.00% year-to-date and -49.75% over the past year.

The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of -$0.13 below consensus estimates by -$0.05. The company’s next earnings report is expected on 06/14/2023, with forecasts estimating quarterly EPS at -$0.05 and -$0.44 for whole year. HNST’s earnings per share are forecast to shrink by -2.30% this year and 36.40% over next year. Expected sales for next quarter are $75.67 million, which analysts say will come at $312.03 million for the current fiscal year and next year at $330.91 million. In addition, estimates put the company’s current quarterly revenue at an average of $80.37 million.

Its 12-month price target is $3.75. To reach the target analysts have set, the stock logically needs to grow 29.18 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $3.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $6.00.

Outstanding shares total 92.46M with insiders holding 8.03% of the shares and institutional holders owning 57.13% of the company’s common stock. The company has a return on investment of -20.60% and return on equity of -22.30%. Price to book ratio is 1.79 and price to sales ratio is 0.90.

According to a U.S. Securities and Exchange Commission filing, Meridian Contrarian Fund has added its position in The Honest Company Inc. Common Stock (HNST) to 2,035,000 shares, mirroring a recent increase by 46.83%. Meridian Contrarian Fund added 0.65 million shares of The Honest Company Inc. Common Stock common stock bringing its total worth to about $6.72 million at the end of recent close, SEC documents show. iShares Russell 2000 ETF cut their holdings by -0.29% in the company over the course of the most recent quarter. It now holds a 1.68% position in The Honest Company Inc. Common Stock thanks to 1.55 million shares amounting to $5.13 million.

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