Honest (NASDAQ:HNST) Given New $7.00 Price Target at B. Riley

Honest (NASDAQ:HNST) had its target price raised by B. Riley from $6.50 to $7.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also commented on HNST. Telsey Advisory Group upped their price target on shares of Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday. 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 report on Wednesday. Northland Capmk upgraded shares of Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Northland Securities upped their price target on shares of Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, five 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 has a consensus rating of “Moderate Buy” and an average target price of $5.93.

Honest Stock Performance

Shares of HNST opened at $6.91 on Wednesday. The firm has a market cap of $697.64 million, a price-to-earnings ratio of -172.75 and a beta of 1.85. Honest has a fifty-two week low of $1.40 and a fifty-two week high of $7.14. The firm has a 50 day moving average price of $3.96 and a 200-day moving average price of $3.52.

Insider Buying and Selling at Honest

In other Honest news, CEO Carla Vernon sold 52,751 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $225,774.28. Following the transaction, the chief executive officer now directly owns 2,828,319 shares of the company’s stock, valued at approximately $12,105,205.32. The trade was a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the completion of the sale, the insider now directly owns 9,869,803 shares in the company, valued at $34,544,310.50. This represents a 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,461,187 shares of company stock valued at $8,739,880. 8.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Honest

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Honest in the 1st quarter worth approximately $93,000. Vanguard Group Inc. lifted its position in Honest by 10.4% in the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after buying an additional 268,600 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Honest in the first quarter worth $359,000. Hillsdale Investment Management Inc. bought a new stake in shares of Honest during the first quarter worth $3,777,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Honest during the first quarter worth $27,000. Institutional investors own 45.54% of the company’s stock.

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.