Telsey Advisory Group Issues Positive Forecast for Honest (NASDAQ:HNST) Stock Price

Honest (NASDAQ:HNST) had its price objective upped by Telsey Advisory Group from $6.00 to $7.00 in a report published on Friday, MarketBeat reports. They currently have a market perform rating on the stock.

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

Honest Stock Performance

HNST opened at $5.90 on Friday. The stock has a fifty day moving average of $6.83 and a 200-day moving average of $4.78. The company has a market capitalization of $595.67 million, a P/E ratio of -147.50 and a beta of 2.45. Honest has a fifty-two week low of $2.40 and a fifty-two week high of $8.97.

Insider Buying and Selling

In related news, EVP Stephen Winchell sold 7,123 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total value of $50,573.30. Following the completion of the transaction, the executive vice president now owns 382,613 shares of the company’s stock, valued at $2,716,552.30. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brendan Sheehey sold 8,392 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction of $59,583.20. Following the sale, the general counsel now directly owns 516,816 shares in the company, valued at approximately $3,669,393.60. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 799,818 shares of company stock worth $5,975,421 in the last ninety days. 8.60% of the stock is owned by insiders.

Institutional Trading of Honest

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in Honest during the 2nd quarter worth approximately $695,000. Rhumbline Advisers lifted its holdings in shares of Honest by 2,486.2% during the second quarter. Rhumbline Advisers now owns 104,481 shares of the company’s stock worth $305,000 after purchasing an additional 100,441 shares during the period. Acadian Asset Management LLC grew its stake in shares of Honest by 706.1% in the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock worth $2,088,000 after purchasing an additional 627,464 shares during the last quarter. American Century Companies Inc. raised its position in Honest by 41.5% during the 2nd quarter. American Century Companies Inc. now owns 111,141 shares of the company’s stock worth $325,000 after purchasing an additional 32,586 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Honest by 68.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after buying an additional 382,418 shares during the period. 45.54% of the stock is currently owned by 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.