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Dynamic quotes 
OFFON

THE HONEST COMPANY, INC.

(HNST)
  Report
Delayed Quote. Delayed Nasdaq - 12/03 04:00:00 pm
7.8 USD   -4.41%
06:17aINSIDER SELL : Honest Company
MT
12:52aJapfa Sells Minority Stake in Chinese Subsidiary
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11/29WALL STREET STOCK EXCHANGE : Back to the guessing game
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SHAREHOLDER ALERT: Robbins LLP Announces that The Honest Company, Inc. (HNST) is Being Sued for Misleading Shareholders

10/13/2021 | 12:17pm EST

Shareholder rights law firm Robbins LLP announces that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired The Honest Company, Inc. (NASDAQ: HNST) common stock in connection with the Company's May 2021 initial public offering ("IPO"). The complaint pursues claims under the Securities Act of 1933. Honest claims to be a "digitally-native, mission-driven brand focused on leading the clean lifestyle movement, creating a community for conscious consumers and seeking to disrupt multiple consumer product categories.”

If you suffered a loss due to The Honest Company, Inc.'s misconduct, click here.

The Honest Company, Inc. (HNST) Mislead the Investing Public Regarding Product Demand

According to the complaint, the registration statement and prospectus filed in connection with the Company's IPO were materially false and misleading. Specifically, defendants omitted that prior to the IPO, the Company's financial results had been significantly impacted by a multimillion-dollar COVID-19 stock-up for products in its Diapers and Wipes and Household and Wellness categories and that at the time of the IPO, the Company was experiencing decelerating demand for such products.

On August 13, 2021, just two months after the IPO, Honest issued its second quarter 2021 financial results, reporting a net loss of $20 million for the second quarter of 2021, compared to a net loss of only $0.4 million for the second quarter of 2020. Honest disclosed that its revenue grew only 3% as compared to the second quarter of 2020 because it was negatively impacted by "an estimated $3.7 million COVID-19 stock-up impact primarily in Diapers and Wipes in the prior year period." The Diapers and Wipes category experienced a revenue decline of 2% compared to the same quarter in 2020, and the Household and Wellness category experienced a revenue decline of 6% from the same quarter in 2020 "as consumer and customer demand for sanitization products decreased as consumers became vaccinated and customers managed heavy levels of inventory."

On this news, the Company's stock fell almost $4.00 per share, or 28%, to close at $10.07 per share on August 13, 2021. The stock currently trades around $9.22, significantly less than its $16.00 IPO price.

If you purchased shares of The Honest Company, Inc. (HNST) pursuant to the Company's IPO, you have until November 15, 2021, to ask the court to appoint you lead plaintiff for the class.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

Contact us to learn more:

Aaron Dumas
(800) 350-6003
adumas@robbinsllp.com
Shareholder Information Form

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against The Honest Company, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.


ę Business Wire 2021
All news about THE HONEST COMPANY, INC.
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Analyst Recommendations on THE HONEST COMPANY, INC.
More recommendations
Financials (USD)
Sales 2021 324 M - -
Net income 2021 -36,3 M - -
Net cash 2021 89,4 M - -
P/E ratio 2021 -19,6x
Yield 2021 1,67%
Capitalization 710 M 710 M -
EV / Sales 2021 1,92x
EV / Sales 2022 1,66x
Nbr of Employees 191
Free-Float 92,2%
Chart THE HONEST COMPANY, INC.
Duration : Period :
The Honest Company, Inc. Technical Analysis Chart | HNST | US4383331067 | MarketScreener
Technical analysis trends THE HONEST COMPANY, INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 9
Last Close Price 7,80 $
Average target price 13,69 $
Spread / Average Target 75,5%
EPS Revisions
Managers and Directors
Nikolaos A. Vlahos Chief Executive Officer & Director
Kelly J. Kennedy Chief Financial Officer & Executive Vice President
James D. White Chairman
Sharareh Parvaneh Chief Information Officer
Jeremy Liew Independent Director
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