Honest (NASDAQ:HNST) Stock Price Expected to Rise, Alliance Global Partners Analyst Says

Honest (NASDAQ:HNST) had its price objective boosted by Alliance Global Partners from $5.75 to $8.00 in a research note published on Wednesday morning, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on HNST. Northland Capmk raised Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. B. Riley started coverage on Honest in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.50 price target on the stock. Finally, Northland Securities started coverage on Honest in a research report on Tuesday, August 6th. They set an “outperform” rating and a $6.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Honest presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Trading Up 6.3 %

HNST stock opened at $6.91 on Wednesday. The stock’s fifty day simple moving average is $3.96 and its two-hundred day simple moving average is $3.52. Honest has a 1-year low of $1.40 and a 1-year high of $7.14. The stock has a market cap of $697.64 million, a P/E ratio of -172.75 and a beta of 1.85.

Insider Buying and Selling

In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the 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 sale, the insider now owns 9,869,803 shares of the company’s stock, valued at approximately $34,544,310.50. This represents a 18.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stephen Winchell sold 6,938 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $29,694.64. Following the sale, the executive vice president now directly owns 414,736 shares in the company, valued at $1,775,070.08. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,461,187 shares of company stock valued at $8,739,880. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Honest

A number of institutional investors have recently added to or reduced their stakes in HNST. SG Americas Securities LLC purchased a new stake in Honest during the 1st quarter worth about $93,000. Vanguard Group Inc. increased its stake in Honest by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after acquiring an additional 268,600 shares during the last quarter. Acadian Asset Management LLC bought a new position in Honest in the 1st quarter worth about $359,000. Hillsdale Investment Management Inc. bought a new position in Honest in the 1st quarter worth about $3,777,000. Finally, EntryPoint Capital LLC bought a new position in Honest in the 1st quarter worth about $27,000. Hedge funds and other 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.