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Now Is A Good Time To Buy The Honest Company Inc. (NASDAQ: HNST)

During the recent session, The Honest Company Inc. (NASDAQ:HNST)’s traded shares were 0.42 million. At the last check today, the stock’s price was $1.48, reflecting an intraday loss of -1.67% or -$0.02. The 52-week high for the HNST share is $4.51, that puts it down -204.73 from that peak though still a striking 0.68% gain since the share price plummeted to a 52-week low of $1.47. The company’s market capitalization is $144.27M, and the average intraday trading volume over the past 10 days was 1.46 million shares, and the average trade volume was 1.08 million shares over the past three months.

The Honest Company Inc. (NASDAQ:HNST) trade information

The Honest Company Inc. (HNST) registered a -1.67% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.67% in intraday trading to $1.48 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -15.71%, and it has moved by -11.14% in 30 days. Based on these gigs, the overall price performance for the year is -51.00%. The short interest in The Honest Company Inc. (NASDAQ:HNST) is 3.05 million shares and it means that shorts have 3.48 day(s) to cover.

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The Honest Company Inc. (HNST) estimates and forecasts

Statistics show that The Honest Company Inc. has underperformed its competitors in share price, compared to the industry in which it operates. The Honest Company Inc. (HNST) shares have gone down -46.94% during the last six months, with a year-to-date growth rate less than the industry average at -14.89% against 4.80. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -9.10% this quarter and then jump 15.40% in the quarter after that. In the rating firms’ projections, revenue will increase 3.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $79.67 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $82.05 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $78.49 million and $84.58 million respectively. In this case, analysts expect current quarter sales to grow by 1.50% and then drop by -3.00% in the coming quarter.

While earnings are projected to return -24.70% in 2023, the next five years will return 46.40% per annum.

HNST Dividends

The Honest Company Inc. is due to release its next quarterly earnings between August 10 and August 14. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

The Honest Company Inc. (NASDAQ:HNST)’s Major holders

The Honest Company Inc. insiders own 14.56% of total outstanding shares while institutional holders control 60.02%, with the float percentage being 70.24%. Institutional Venture Management XIII, LLC is the largest shareholder of the company, while 173 institutions own stock in it. As of Mar 30, 2023, the company held over 10.42 million shares (or 11.15% of all shares), a total value of $18.75 million in shares.

The next largest institutional holding, with 4.66 million shares, is of Portolan Capital Management, LLC’s that is approximately 4.98% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $8.38 million.

Also, the Mutual Funds coming in first place with the largest holdings of The Honest Company Inc. (HNST) shares are Meridian Contrarian Fund and Fidelity Strategic Advisors Small-Mid Cap Fund. Data provided on Dec 30, 2022 indicates that Meridian Contrarian Fund owns about 2.04 million shares. This amounts to just over 2.18 percent of the company’s overall shares, with a $6.13 million market value. The same data shows that the other fund manager holds slightly less at 1.79 million, or about 1.92% of the stock, which is worth about $5.9 million.

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