The Honest Company, Inc. (NASDAQ:HNST) Short Interest Up 14.1% in October

The Honest Company, Inc. (NASDAQ:HNST) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 3,240,000 shares, a growth of 14.1% from the October 15th total of 2,840,000 shares. Currently, 5.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 637,500 shares, the days-to-cover ratio is currently 5.1 days.

Honest Trading Up 3.3 %

Shares of HNST opened at $1.55 on Wednesday. The business’s 50-day moving average is $1.26 and its 200-day moving average is $1.47. Honest has a fifty-two week low of $1.06 and a fifty-two week high of $3.75.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 target price on shares of Honest in a research report on Wednesday, September 6th. Morgan Stanley cut their target price on shares of Honest from $2.00 to $1.85 and set an “equal weight” rating on the stock in a research note on Wednesday, August 9th.

Insider Activity at Honest

In other Honest news, Director James D. White acquired 64,250 shares of the stock in a transaction dated Friday, September 15th. The shares were bought at an average price of $1.17 per share, with a total value of $75,172.50. Following the purchase, the director now directly owns 318,675 shares of the company’s stock, valued at approximately $372,849.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director James D. White acquired 64,250 shares of Honest stock in a transaction dated Friday, September 15th. The stock was acquired at an average cost of $1.17 per share, with a total value of $75,172.50. Following the purchase, the director now directly owns 318,675 shares in the company, valued at approximately $372,849.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Carla Vernon bought 50,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were bought at an average cost of $1.21 per share, for a total transaction of $60,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,945,238 shares of the company’s stock, valued at $2,353,737.98. The disclosure for this purchase can be found here. Insiders sold 344,716 shares of company stock valued at $498,209 over the last 90 days. 26.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Honest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HNST. Portolan Capital Management LLC raised its stake in shares of Honest by 49.7% during the 1st quarter. Portolan Capital Management LLC now owns 4,655,698 shares of the company’s stock worth $8,380,000 after purchasing an additional 1,545,938 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Honest by 386.1% in the second quarter. Renaissance Technologies LLC now owns 1,759,900 shares of the company’s stock valued at $5,139,000 after acquiring an additional 1,397,880 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its position in Honest by 34.9% in the second quarter. ArrowMark Colorado Holdings LLC now owns 2,746,206 shares of the company’s stock worth $4,614,000 after acquiring an additional 711,206 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Honest by 272.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 966,266 shares of the company’s stock worth $2,908,000 after purchasing an additional 706,730 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Honest by 88.5% during the 2nd quarter. Marshall Wace LLP now owns 1,278,575 shares of the company’s stock valued at $2,148,000 after purchasing an additional 600,161 shares in the last quarter. Hedge funds and other institutional investors own 37.11% of the company’s stock.

About Honest

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.