Honest (NASDAQ:HNST) Reaches New 1-Year High Following Analyst Upgrade

The Honest Company, Inc. (NASDAQ:HNST) shares reached a new 52-week high during trading on Wednesday after B. Riley raised their price target on the stock from $6.50 to $7.00. B. Riley currently has a buy rating on the stock. Honest traded as high as $5.89 and last traded at $5.89, with a volume of 428225 shares changing hands. The stock had previously closed at $4.80.

Other equities analysts also recently issued reports about the company. Northland Capmk raised Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Alliance Global Partners upped their target price on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday. Telsey Advisory Group raised their price objective on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Northland Securities raised their target price on shares of Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday. Two research 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. Based on data from MarketBeat, Honest presently has a consensus rating of “Moderate Buy” and an average price target of $5.93.

Insider Buying and Selling

In other Honest news, EVP Stephen Winchell sold 6,938 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the completion of the sale, the executive vice president now directly owns 414,736 shares of the company’s stock, valued at $1,775,070.08. 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 at this hyperlink. In other Honest news, CEO Carla Vernon sold 52,751 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $225,774.28. Following the transaction, the chief executive officer now directly owns 2,828,319 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen Winchell sold 6,938 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the completion of the sale, the executive vice president now owns 414,736 shares of the company’s stock, valued at approximately $1,775,070.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,461,187 shares of company stock valued at $8,739,880. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

Large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd raised its holdings in Honest by 7.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock valued at $288,000 after acquiring an additional 5,330 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Honest during the first quarter valued at about $27,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Honest by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock worth $805,000 after buying an additional 7,379 shares in the last quarter. XTX Topco Ltd boosted 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 acquiring an additional 8,282 shares during the period. Finally, Creative Planning purchased a new position in Honest during the third quarter valued at approximately $39,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Honest Stock Performance

The company’s 50 day simple moving average is $3.86 and its 200-day simple moving average is $3.47. The firm has a market capitalization of $601.48 million, a PE ratio of -150.25 and a beta of 1.85.

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.