Alliance Global Partners Forecasts Strong Price Appreciation for Honest (NASDAQ:HNST) Stock

Honest (NASDAQ:HNST) had its price objective upped by Alliance Global Partners from $5.75 to $8.00 in a report issued on Wednesday morning, MarketBeat reports. Alliance Global Partners currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Northland Capmk upgraded Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Northland Securities initiated coverage on shares of Honest in a research report on Tuesday, August 6th. They issued an “outperform” rating and a $6.00 price target on the stock. Finally, B. Riley began coverage on shares of Honest in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.50 price objective for the company. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Stock Up 25.2 %

Shares of NASDAQ HNST opened at $6.01 on Wednesday. The stock’s 50 day moving average price is $3.86 and its two-hundred day moving average price is $3.47. Honest has a 52-week low of $1.39 and a 52-week high of $6.53. The stock has a market capitalization of $601.48 million, a P/E ratio of -150.25 and a beta of 1.85.

Insider Buying and Selling

In other Honest news, EVP Stephen Winchell sold 6,938 shares of Honest stock in a transaction that occurred on 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 in the company, valued at $1,775,070.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Stephen Winchell sold 6,938 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $29,694.64. Following the transaction, 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brendan Sheehey sold 8,176 shares of Honest stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $34,993.28. Following the completion of the transaction, the general counsel now directly owns 517,861 shares in the company, valued at approximately $2,216,445.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,461,187 shares of company stock worth $8,739,880. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

Several large investors have recently bought and sold shares of HNST. Dynamic Technology Lab Private Ltd lifted its position in shares of Honest by 7.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock worth $288,000 after acquiring an additional 5,330 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Honest in the first quarter valued at $27,000. Charles Schwab Investment Management Inc. raised its stake in shares of Honest by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock valued at $805,000 after purchasing an additional 7,379 shares in the last quarter. XTX Topco Ltd lifted its position in Honest by 6.4% in the second quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock worth $402,000 after purchasing an additional 8,282 shares during the period. Finally, Creative Planning acquired a new stake in Honest during the third quarter worth $39,000. 45.54% of the stock is currently 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.