Honest (NASDAQ:HNST) Price Target Raised to $7.50

Honest (NASDAQ:HNST) had its price target increased by Northland Securities from $6.50 to $7.50 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. B. Riley started coverage on shares of Honest in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.50 target price for the company. Alliance Global Partners increased their target price on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Stock Performance

Shares of HNST stock opened at $6.91 on Wednesday. Honest has a 52-week low of $1.40 and a 52-week high of $7.14. The stock has a market cap of $697.64 million, a price-to-earnings ratio of -172.75 and a beta of 1.85. The firm has a fifty day moving average of $3.96 and a 200-day moving average of $3.52.

Insider Activity

In related news, 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 transaction, the executive vice president now directly owns 414,736 shares in the company, valued at approximately $1,775,070.08. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 9,869,803 shares in the company, 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. Insiders have sold 2,461,187 shares of company stock worth $8,739,880 over the last ninety days. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

A number of institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of Honest by 3.8% in the third quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock valued at $6,468,000 after acquiring an additional 65,995 shares during the period. Barclays PLC raised its stake in Honest by 298.9% in the third quarter. Barclays PLC now owns 110,386 shares of the company’s stock valued at $394,000 after purchasing an additional 82,713 shares in the last quarter. XTX Topco Ltd raised its stake in Honest by 14.2% in the third quarter. XTX Topco Ltd now owns 157,363 shares of the company’s stock valued at $562,000 after purchasing an additional 19,566 shares in the last quarter. Zacks Investment Management acquired a new position in Honest in the third quarter valued at about $37,000. Finally, Wexford Capital LP raised its stake in Honest by 27.5% in the third quarter. Wexford Capital LP now owns 152,538 shares of the company’s stock valued at $545,000 after purchasing an additional 32,865 shares in the last quarter. Institutional investors own 45.54% of the company’s stock.

About Honest

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.