Loop Capital Trims Honest (NASDAQ:HNST) Target Price to $3.00

Honest (NASDAQ:HNST) had its price objective cut by Loop Capital from $5.00 to $3.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages have also issued reports on HNST. Lake Street Capital began coverage on shares of Honest in a report on Thursday, April 4th. They issued a buy rating and a $6.00 price target on the stock. Telsey Advisory Group reissued a market perform rating and issued a $4.00 price target on shares of Honest in a report on Wednesday, April 10th. Alliance Global Partners began coverage on shares of Honest in a report on Tuesday, February 6th. They issued a buy rating and a $5.75 price target on the stock. Finally, Morgan Stanley boosted their price target on shares of Honest from $1.85 to $4.00 and gave the company an equal weight rating in a report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $4.55.

Honest Trading Down 0.3 %

Shares of HNST stock opened at $3.02 on Friday. Honest has a 1 year low of $1.06 and a 1 year high of $4.89. The firm’s fifty day simple moving average is $3.64 and its 200 day simple moving average is $2.74. The firm has a market capitalization of $293.04 million, a P/E ratio of -7.19 and a beta of 1.83.

Honest (NASDAQ:HNST) last announced its earnings results on Wednesday, March 6th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. Honest had a negative net margin of 11.39% and a negative return on equity of 30.36%. The business had revenue of $90.26 million for the quarter, compared to analyst estimates of $83.54 million. Equities research analysts anticipate that Honest will post -0.18 EPS for the current fiscal year.

Insider Transactions at Honest

In other news, insider Jessica Warren sold 253,815 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $2.99, for a total value of $758,906.85. Following the sale, the insider now owns 1,109,489 shares of the company’s stock, valued at approximately $3,317,372.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Stephen Winchell sold 19,665 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $3.24, for a total transaction of $63,714.60. Following the transaction, the executive vice president now owns 428,957 shares in the company, valued at approximately $1,389,820.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jessica Warren sold 253,815 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $2.99, for a total transaction of $758,906.85. Following the transaction, the insider now owns 1,109,489 shares in the company, valued at approximately $3,317,372.11. The disclosure for this sale can be found here. In the last quarter, insiders have sold 803,229 shares of company stock valued at $2,684,496. 14.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HNST. Barclays PLC acquired a new position in Honest during the 3rd quarter worth about $110,000. Pathstone Family Office LLC lifted its position in Honest by 159.4% during the 3rd quarter. Pathstone Family Office LLC now owns 64,860 shares of the company’s stock worth $82,000 after buying an additional 39,860 shares in the last quarter. Wade G W & Inc. lifted its position in Honest by 69.2% during the 3rd quarter. Wade G W & Inc. now owns 185,605 shares of the company’s stock worth $234,000 after buying an additional 75,935 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new position in Honest during the 3rd quarter worth about $89,000. Finally, GSA Capital Partners LLP lifted its position in Honest by 25.3% during the 3rd quarter. GSA Capital Partners LLP now owns 1,078,733 shares of the company’s stock valued at $1,359,000 after purchasing an additional 217,721 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.