Honest (NASDAQ:HNST) Cut to Hold at Loop Capital

Loop Capital lowered shares of Honest (NASDAQ:HNST) from a buy rating to a hold rating in a report published on Tuesday, Marketbeat reports. Loop Capital currently has $7.00 price target on the stock.

Several other equities research analysts have also commented on the company. Telsey Advisory Group upped their price objective on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Northland Securities increased their price target on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. B. Riley lifted their price objective on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Alliance Global Partners upped their price objective on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Three investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.79.

Honest Stock Up 0.9 %

Shares of HNST stock opened at $6.58 on Tuesday. Honest has a 52-week low of $2.40 and a 52-week high of $8.97. The stock has a market cap of $664.32 million, a PE ratio of -164.50 and a beta of 2.42. The business has a 50-day simple moving average of $5.88 and a 200-day simple moving average of $4.32.

Insider Activity at Honest

In other news, General Counsel Brendan Sheehey sold 107,653 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.01, for a total value of $754,647.53. Following the transaction, the general counsel now owns 517,861 shares in the company, valued at $3,630,205.61. This trade represents a 17.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen Winchell sold 7,123 shares of Honest stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total value of $50,573.30. Following the completion of the sale, the executive vice president now directly owns 382,613 shares in the company, valued at $2,716,552.30. This represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 799,818 shares of company stock valued at $5,975,421. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Honest

Hedge funds and other institutional investors have recently modified their holdings of the business. Zacks Investment Management acquired a new stake in Honest in the 3rd quarter valued at about $37,000. Creative Planning acquired a new position in shares of Honest during the 3rd quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Honest in the third quarter valued at approximately $40,000. Panagora Asset Management Inc. acquired a new stake in shares of Honest in the second quarter valued at approximately $43,000. Finally, Castleview Partners LLC purchased a new position in Honest during the third quarter worth approximately $71,000. 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.