Honest Company Inc (NASDAQ:HNST) price on Thursday, November 14, rose 8.15% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $6.50.
A look at the stock’s price movement, the close in the last trading session was $6.01, moving within a range at $6.19 and $6.77. The beta value (5-Year monthly) was 1.846. Turning to its 52-week performance, $6.53 and $1.39 were the 52-week high and 52-week low respectively. Overall, HNST moved 66.24% over the past month.
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Honest Company Inc’s market cap currently stands at around $656.25 million, with investors looking forward to this quarter’s earnings report slated for in December.
Analysts have a consensus estimate of 96.36M for the company’s revenue for the quarter, with a low and high estimate of 95M and 97.48M respectively. The average forecast suggests up to a 6.75% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 374.89M, representing a 8.87% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that HNST is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 4 recommend HNST as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
HNST’s current price about 54.96% and 66.40% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 87.95, while 7-day volatility ratio is 10.73% and 5.93% in the 30-day chart. Further, Honest Company Inc (HNST) has a beta value of 2.08, and an average true range (ATR) of 0.37. Analysts have given the company’s stock an average 52-week price target of $6, forecast between a low of $3.75 and high of $7. Looking at the price targets, the low is 42.31% off current price level while to achieve the yearly target high, price needs to move -7.69%. Nonetheless, investors will most likely welcome a 7.69% jump to $6 which is the analysts’ median price.
If we refocus on Honest Company Inc (NASDAQ:HNST), historical trading data shows that trading volumes averaged 4.41 over the past 10 days and 1.95 million over the past 3 months. The company’s latest data on shares outstanding shows there are 95.87 million shares.
The 34.36% of Honest Company Inc’s shares are in the hands of company insiders while institutional holders own 48.09% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.0 million on 2024-10-31, giving us a short ratio of 1.04. The data shows that as of 2024-10-31 short interest in Honest Company Inc (HNST) stood at 242.0 of shares outstanding, with shares short falling to 2.26 million registered in 2024-09-30. Current price change has pushed the stock 96.97% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the HNST stock continues to rise going into the next quarter.
