Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Honest Company Inc shares valued at $8,050,000 were sold by THC Shared Abacus, LP on Sep 18 ’24. At $3.50 per share, THC Shared Abacus, LP sold 2,300,000 shares. The insider’s holdings dropped to 9,869,803 shares worth approximately $64.15 million following the completion of this transaction.
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Also, Winchell Stephen sold 6,938 shares, netting a total of over 29,695 in proceeds. Following the sale of shares at $4.28 each, the insider now holds 414,736 shares.
Before that, Loretta David had sold 75,656 shares from its account. In a trade valued at $323,808, the Chief Financial Officer traded Honest Company Inc shares for $4.28 each. Upon closing the transaction, the insider’s holdings decreased to 75,656 shares, worth approximately $6.42 million.
As published in a research note from Telsey Advisory Group on November 13, 2024, Honest Company Inc [HNST] has been retained to a Market perform and the price target has been revised to $6. Analysts at Alliance Global Partners resumed the stock at ‘”a Buy”‘ outlook in a report released in mid November. As of September 10, 2024, B. Riley Securities has initiated its “Buy” rating for HNST. Earlier on August 06, 2024, Northland Capital initiated its rating. Their recommendation was “an Outperform” for HNST stock.
Analyzing HNST Stock Performance
During the last five days, there has been a surge of approximately 54.03%. Over the course of the year, Honest Company Inc shares have jumped approximately 96.97%. Shares of the company reached a 52-week high of $6.77 on 11/14/24 and a 52-week low of $2.40 on 06/24/24. A 50-day SMA is recorded $3.91, while a 200-day SMA reached $3.52. Nevertheless, trading volume fell to 6.97 million shares from 8.32 million shares the previous day.
Support And Resistance Levels for Honest Company Inc (HNST)
According to the 24-hour chart, there is a support level at 6.20, which, if violated, would cause prices to drop to 5.91. In the upper region, resistance lies at 6.78. The next price resistance is at 7.07. RSI (Relative Strength Index) is 87.95 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.35, which suggests the price will increase in the coming days. Percent R is at 8.57%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
