Northland Securities Forecasts Strong Price Appreciation for Honest (NASDAQ:HNST) Stock

Honest (NASDAQ:HNST) had its target price boosted by Northland Securities from $6.50 to $7.50 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price target indicates a potential upside of 15.38% from the company’s previous close.

HNST has been the topic of several other reports. B. Riley initiated coverage on Honest in a research report on Tuesday, September 10th. They issued a “buy” rating and a $6.50 price objective on the stock. Alliance Global Partners raised their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Northland Capmk upgraded Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Honest has a consensus rating of “Moderate Buy” and an average price target of $5.93.

Honest Stock Up 8.2 %

Honest stock opened at $6.50 on Wednesday. The firm has a fifty day moving average of $3.91 and a 200-day moving average of $3.49. Honest has a 52-week low of $1.40 and a 52-week high of $6.77. The firm has a market capitalization of $650.52 million, a P/E ratio of -162.50 and a beta of 1.85.

Insider Activity at Honest

In other Honest news, CFO David Loretta sold 75,656 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $323,807.68. Following the transaction, the chief financial officer now directly owns 987,757 shares in the company, valued at $4,227,599.96. This represents a 7.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Carla Vernon sold 52,751 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $225,774.28. Following the completion of the sale, 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 1.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,461,187 shares of company stock valued at $8,739,880. Insiders own 8.60% of the company’s stock.

Institutional Trading of Honest

Several institutional investors and hedge funds have recently bought and sold shares of HNST. Walleye Capital LLC bought a new stake in shares of Honest in the 3rd quarter valued at approximately $260,000. PEAK6 Investments LLC bought a new stake in Honest during the third quarter valued at $191,000. MetLife Investment Management LLC raised its holdings in shares of Honest by 74.8% during the third quarter. MetLife Investment Management LLC now owns 37,235 shares of the company’s stock worth $133,000 after purchasing an additional 15,930 shares during the period. FMR LLC lifted its position in shares of Honest by 12.8% in the 3rd quarter. FMR LLC now owns 219,742 shares of the company’s stock worth $784,000 after buying an additional 24,900 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of Honest by 7.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock valued at $288,000 after buying an additional 5,330 shares during the period. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.