Honest (NASDAQ:HNST) Receives “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Honest (NASDAQ:HNST) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $7.00 price target on the stock.

A number of other research firms also recently commented on HNST. Northland Securities increased their price objective on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Loop Capital cut Honest from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a report on Tuesday, December 17th. Alliance Global Partners boosted their price objective on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, B. Riley raised their target price on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Honest has a consensus rating of “Moderate Buy” and a consensus price target of $6.93.

Honest Stock Down 1.1 %

Shares of NASDAQ HNST opened at $6.19 on Wednesday. The firm has a 50-day simple moving average of $6.46 and a 200-day simple moving average of $5.35. The stock has a market capitalization of $624.94 million, a price-to-earnings ratio of -154.75 and a beta of 2.43. Honest has a 52 week low of $2.40 and a 52 week high of $8.97.

Insider Activity at Honest

In other news, General Counsel Brendan Sheehey sold 92,138 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $8.13, for a total value of $749,081.94. Following the transaction, the general counsel now owns 516,816 shares of the company’s stock, valued at $4,201,714.08. This represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jessica Warren sold 465,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total value of $3,510,750.00. Following the transaction, the director now owns 1,170,058 shares of the company’s stock, valued at approximately $8,833,937.90. This represents a 28.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Honest

Institutional investors and hedge funds have recently made changes to their positions in the stock. Valmark Advisers Inc. boosted its position in shares of Honest by 1.7% during the 4th quarter. Valmark Advisers Inc. now owns 163,015 shares of the company’s stock worth $1,130,000 after purchasing an additional 2,735 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Honest by 6.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,706 shares of the company’s stock worth $324,000 after purchasing an additional 2,761 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Honest during the fourth quarter worth $26,000. Dynamic Technology Lab Private Ltd grew its stake in shares of Honest by 7.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock valued at $288,000 after buying an additional 5,330 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Honest by 30.1% in the 4th quarter. Legal & General Group Plc now owns 26,571 shares of the company’s stock valued at $184,000 after buying an additional 6,146 shares during the period. 45.54% of the stock is owned by hedge funds and other institutional investors.

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.