Honest (NASDAQ:HNST) Price Target Raised to $6.00 at Telsey Advisory Group

Honest (NASDAQ:HNST) had its target price upped by Telsey Advisory Group from $4.00 to $6.00 in a research report report published on Wednesday, MarketBeat.com reports. They currently have a market perform rating on the stock.

Several other research analysts have also commented on HNST. Northland Capmk raised Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Alliance Global Partners upped their price target on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday. B. Riley assumed coverage on shares of Honest in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.50 price objective on the stock. Finally, Northland Securities upped their target price on shares of Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.93.

Honest Trading Up 8.0 %

NASDAQ:HNST traded up $0.48 during midday trading on Wednesday, hitting $6.49. 1,953,556 shares of the company were exchanged, compared to its average volume of 1,358,755. Honest has a fifty-two week low of $1.40 and a fifty-two week high of $6.77. The company has a market capitalization of $649.52 million, a PE ratio of -166.50 and a beta of 1.85. The company has a fifty day simple moving average of $3.86 and a 200 day simple moving average of $3.47.

Insider Buying and Selling at Honest

In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value of $8,050,000.00. Following the sale, the insider now directly owns 9,869,803 shares in the company, valued at $34,544,310.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Carla Vernon sold 52,751 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $225,774.28. Following the completion of the transaction, the chief executive officer now directly owns 2,828,319 shares of the company’s stock, valued at $12,105,205.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value of $8,050,000.00. Following the sale, the insider now directly owns 9,869,803 shares in the company, valued at approximately $34,544,310.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,461,187 shares of company stock valued at $8,739,880. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

Several hedge funds have recently modified their holdings of HNST. Dynamic Technology Lab Private Ltd boosted its position in Honest by 7.1% during the third 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 last quarter. EntryPoint Capital LLC purchased a new position in shares of Honest during the 1st quarter worth $27,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Honest by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock worth $805,000 after purchasing an additional 7,379 shares during the last quarter. XTX Topco Ltd grew its position in shares of Honest by 6.4% in the second quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock valued at $402,000 after purchasing an additional 8,282 shares during the period. Finally, Creative Planning acquired a new position in Honest in the third quarter valued at $39,000. 45.54% of the stock is owned by institutional investors and hedge funds.

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.