Honest (NASDAQ:HNST) Given New $6.00 Price Target at Telsey Advisory Group

Honest (NASDAQ:HNST) had its target price raised by Telsey Advisory Group from $4.00 to $6.00 in a research note issued to investors on Wednesday, Marketbeat reports. Telsey Advisory Group currently has a market perform rating on the stock.

Several other research analysts have also commented on the company. Northland Capmk raised Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Northland Securities lifted their price objective on shares of Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a research note on Wednesday. B. Riley assumed coverage on shares of Honest in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.50 target price for the company. Finally, Alliance Global Partners lifted their price target on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.93.

Honest Stock Up 8.0 %

Shares of NASDAQ HNST traded up $0.48 during midday trading on Wednesday, hitting $6.49. The stock had a trading volume of 1,953,556 shares, compared to its average volume of 1,358,755. Honest has a 1-year low of $1.40 and a 1-year high of $6.77. The company has a market capitalization of $649.52 million, a price-to-earnings ratio of -166.50 and a beta of 1.85. The company has a fifty day moving average price of $3.86 and a 200 day moving average price of $3.47.

Insider Transactions at Honest

In other news, EVP Stephen Winchell sold 6,938 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $29,694.64. Following the transaction, the executive vice president now owns 414,736 shares of the company’s stock, valued at approximately $1,775,070.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Honest news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value of $8,050,000.00. Following the completion of the transaction, the insider now owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Stephen Winchell sold 6,938 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $29,694.64. Following the sale, the executive vice president now owns 414,736 shares of the company’s stock, valued at approximately $1,775,070.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,461,187 shares of company stock valued at $8,739,880. 8.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. EntryPoint Capital LLC bought a new position in Honest in the first quarter worth about $27,000. Creative Planning acquired a new stake in shares of Honest during the 3rd quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Honest in the 3rd quarter worth approximately $40,000. Panagora Asset Management Inc. bought a new stake in shares of Honest in the 2nd quarter worth approximately $43,000. Finally, Lazard Asset Management LLC bought a new position in Honest during the 1st quarter worth $52,000. 45.54% of the stock is owned by institutional investors and hedge funds.

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.