Honest (NASDAQ:HNST) Stock Price Expected to Rise, B. Riley Analyst Says

Honest (NASDAQ:HNST) had its price target boosted by B. Riley from $6.50 to $7.00 in a research report released on Wednesday,Benzinga reports. B. Riley currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on HNST. Telsey Advisory Group upped their target price on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday. Northland Securities upped 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. Northland Capmk upgraded Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Alliance Global Partners increased their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Honest currently has a consensus rating of “Moderate Buy” and an average target price of $5.93.

Honest Price Performance

NASDAQ HNST opened at $6.91 on Wednesday. The company’s 50 day simple moving average is $3.96 and its two-hundred day simple moving average is $3.52. The stock has a market capitalization of $697.64 million, a PE ratio of -172.75 and a beta of 1.85. Honest has a 1 year low of $1.40 and a 1 year high of $7.14.

Insider Transactions at Honest

In other news, EVP Stephen Winchell sold 6,938 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the completion of the sale, the executive vice president now directly owns 414,736 shares of the company’s stock, valued at approximately $1,775,070.08. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the completion of the transaction, the insider now directly owns 9,869,803 shares of the company’s stock, valued at approximately $34,544,310.50. The trade was a 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,461,187 shares of company stock worth $8,739,880. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Honest

Several hedge funds have recently made changes to their positions in HNST. EntryPoint Capital LLC purchased a new position in Honest during the first quarter valued at $27,000. Zacks Investment Management bought a new position in shares of Honest in the 3rd quarter worth about $37,000. Creative Planning bought a new position in shares of Honest during the third quarter valued at approximately $39,000. Wealth Enhancement Advisory Services LLC bought a new position in Honest in the 3rd quarter worth about $40,000. Finally, Panagora Asset Management Inc. bought a new stake in shares of Honest in the 2nd quarter worth $43,000. 45.54% of the stock is currently owned by institutional investors.

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.