Telsey Advisory Group downgrades The Honest Company Inc. (HNST) rating to a Market perform


The Honest Company Inc.’s recent filing unveils that its Chief Creative Officer Warren Jessica unloaded Company’s shares for reported $17245.0 on Aug 21. In the deal valued at $1.36 per share,12,680 shares were sold. As a result of this transaction, Warren Jessica now holds 1,028,277 shares worth roughly $ 1.49 million.

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Then, Kennedy Kelly J. sold 6,621 shares, generating $9,005 in total proceeds. Upon selling the shares at $1.36, the EVP and CFO now owns 963,042 shares.

Before that, Rexing Rick sold 4,886 shares. The Honest Company Inc. shares valued at $6,645 were divested by the Chief Revenue Officer at a price of $1.36 per share. As a result of the transaction, Rexing Rick now holds 455,871 shares, worth roughly $0.66 million.

Telsey Advisory Group downgraded its The Honest Company Inc. [HNST] rating to a Market perform from a an Outperform in a research note published on Tuesday, March 17, 2023; the price target was decreased to $2 from $6. PT values the company’s stock at a premium of 27.5 to its Tuesday closing price.

Price Performance Review of HNST

On Tuesday, The Honest Company Inc. [NASDAQ:HNST] saw its stock fall -2.68% to $1.45. On the same session, the stock had its day’s lowest price of $1.40, but rose to a high of $1.48. Over the last five days, the stock has gained 0.69%. The Honest Company Inc. shares have fallen nearly -51.83% since the year began. Nevertheless, the stocks have fallen -58.92% over the past one year. While a 52-week high of $4.32 was reached on 02/02/23, a 52-week low of $1.30 was recorded on 08/21/23. SMA at 50 days reached $1.5393, while 200 days put it at $2.1669. A total of 0.52 million shares were traded, compared to the trading of 0.24 million shares in the previous session.

Levels Of Support And Resistance For HNST Stock

The 24-hour chart illustrates a support level at 1.4067, which if violated will result in even more drops to 1.3633. On the upside, there is a resistance level at 1.4867. A further resistance level may holdings at 1.5233. The Relative Strength Index (RSI) on the 14-day chart is 47.15, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0280, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 37.50%. Stochastics %K at 73.61% indicates the stock is a holding.

How much short interest is there in The Honest Company Inc.?

A steep rise in short interest was recorded in The Honest Company Inc. stocks on Aug 14, 2023, growing by 0.11 million shares to a total of 2.36 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.25 million shares. There was a rise of 4.66%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.50% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.38.

The Honest Company Inc. [HNST] – Who Are The Largest Shareholders?

In filings from Portolan Capital Management LLC, it is revealed that the company now owns 5,825,650 shares, or roughly 6.24% of the outstanding HNST shares. In other words, the investor’s shares have risen by 1,169,952 from its previous 13-F filing of 4655698.0. Additionally, ArrowMark Colorado Holdings LLC increased 34.95% of its stake after which the total value it holdings stand at $4,146,771, while The Vanguard Group, Inc. reduced -9.61% of its stake to hold $3.64 million in the firm. Over the last quarter, Columbia Management Investment Ad purchased 426,632 shares of The Honest Company Inc., while Allspring Global Investments LLC bought 100,362 shares. At present, Marshall Wace LLP is holding 1,278,575 shares valued at $1.93 million. Millennium Management LLC owned 1,203,699 shares of the company at the time of its most recent 13F filing, worth $1.82 million.

According to FactSet, The Honest Company Inc.’s share price will average $1.62 in the next year, based on opinions of analysts polled by the firm. This is up nearly 24.16 percent from its previous closing price of $1.49. Analysts expect The Honest Company Inc. stock to reach the higher price of $2.00, while the lowest price estimate is $1.00. However, 5 analysts have rated HNST stock as an Overweight in their predictions for 2023.


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