Honest (NASDAQ:HNST) Stock Price Expected to Rise, Alliance Global Partners Analyst Says

Honest (NASDAQ:HNST) had its price target upped by Alliance Global Partners from $5.75 to $8.00 in a research note published on Wednesday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Other equities analysts have also issued reports about the company. Northland Capmk raised Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Northland Securities initiated coverage on Honest in a research note on Tuesday, August 6th. They issued an “outperform” rating and a $6.00 price target on the stock. Finally, B. Riley initiated coverage on Honest in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.50 price target on the stock. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.93.

Honest Price Performance

Honest stock opened at $6.91 on Wednesday. The stock’s 50 day moving average is $3.96 and its 200 day moving average is $3.52. The firm has a market cap of $697.64 million, a P/E ratio of -172.75 and a beta of 1.85. Honest has a one year low of $1.40 and a one year high of $7.14.

Insider Activity

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

Institutional Investors Weigh In On Honest

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in Honest by 3.8% during the third quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock worth $6,468,000 after buying an additional 65,995 shares in the last quarter. Barclays PLC grew its holdings in Honest by 298.9% during the third quarter. Barclays PLC now owns 110,386 shares of the company’s stock worth $394,000 after buying an additional 82,713 shares in the last quarter. XTX Topco Ltd grew its holdings in Honest by 14.2% during the third quarter. XTX Topco Ltd now owns 157,363 shares of the company’s stock worth $562,000 after buying an additional 19,566 shares in the last quarter. Zacks Investment Management bought a new stake in Honest during the third quarter worth $37,000. Finally, Wexford Capital LP grew its holdings in Honest by 27.5% during the third quarter. Wexford Capital LP now owns 152,538 shares of the company’s stock worth $545,000 after buying an additional 32,865 shares in the last quarter. Institutional investors own 45.54% of the company’s stock.

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.