Investors Purchase Large Volume of Honest Put Options (NASDAQ:HNST)

The Honest Company, Inc. (NASDAQ:HNST) saw some unusual options trading activity on Monday. Traders purchased 3,982 put options on the company. This represents an increase of approximately 110% compared to the typical daily volume of 1,897 put options.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Loop Capital cut shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a report on Tuesday, December 17th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price target on shares of Honest in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Honest has an average rating of “Moderate Buy” and an average price target of $7.70.

Insider Activity

In other news, SVP Jonathan Mayle sold 37,481 shares of Honest stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $4.87, for a total transaction of $182,532.47. Following the sale, the senior vice president now directly owns 307,740 shares of the company’s stock, valued at approximately $1,498,693.80. The trade was a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Winchell sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $4.98, for a total value of $99,600.00. Following the completion of the transaction, the insider now owns 431,844 shares in the company, valued at approximately $2,150,583.12. This trade represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

Several large investors have recently made changes to their positions in HNST. Valmark Advisers Inc. increased its position in Honest by 1.7% in the 4th quarter. Valmark Advisers Inc. now owns 163,015 shares of the company’s stock valued at $1,130,000 after acquiring an additional 2,735 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Honest by 6.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,706 shares of the company’s stock valued at $324,000 after purchasing an additional 2,761 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Honest during the 4th quarter valued at $26,000. GAMMA Investing LLC raised its stake in shares of Honest by 11,727.8% in the 1st quarter. GAMMA Investing LLC now owns 4,258 shares of the company’s stock worth $200,000 after buying an additional 4,222 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Honest by 30.1% in the fourth quarter. Legal & General Group Plc now owns 26,571 shares of the company’s stock valued at $184,000 after buying an additional 6,146 shares during the period. Institutional investors and hedge funds own 45.54% of the company’s stock.

Honest Trading Up 3.1 %

NASDAQ:HNST opened at $4.31 on Tuesday. The firm has a market capitalization of $469.40 million, a PE ratio of -107.75 and a beta of 2.44. Honest has a 52 week low of $2.40 and a 52 week high of $8.97. The stock has a 50 day moving average of $5.45 and a 200-day moving average of $5.60.

Honest (NASDAQ:HNST) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. The company had revenue of $99.84 million during the quarter, compared to the consensus estimate of $96.46 million. As a group, analysts predict that Honest will post -0.07 EPS for the current fiscal year.

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.