Honest (NASDAQ:HNST) Stock Price Up 3.1% – Still a Buy?

The Honest Company, Inc. (NASDAQ:HNST) shot up 3.1% during trading on Friday . The company traded as high as $6.70 and last traded at $6.70. 1,167,097 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 1,383,000 shares. The stock had previously closed at $6.50.

Analyst Ratings Changes

HNST has been the subject of several recent research reports. Alliance Global Partners increased their target price on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday. Northland Capmk upgraded Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Northland Securities upped their price target on Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday. Telsey Advisory Group lifted their price objective on shares of Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, B. Riley boosted their price objective on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday. Two investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Trading Up 6.3 %

The business has a 50 day simple moving average of $3.96 and a two-hundred day simple moving average of $3.52. The stock has a market cap of $697.64 million, a price-to-earnings ratio of -172.75 and a beta of 1.85.

Insider Buying and Selling at Honest

In other Honest news, EVP Stephen Winchell sold 6,938 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 $29,694.64. Following the completion of the sale, the executive vice president now owns 414,736 shares in the company, valued at $1,775,070.08. The trade was a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $225,774.28. Following the sale, the chief executive officer now directly owns 2,828,319 shares of the company’s stock, valued at approximately $12,105,205.32. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,461,187 shares of company stock worth $8,739,880 over the last quarter. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Honest

A number of large investors have recently modified their holdings of HNST. EntryPoint Capital LLC bought a new position in Honest in the 1st quarter worth about $27,000. Zacks Investment Management acquired a new stake in Honest in the 3rd quarter valued at approximately $37,000. Creative Planning bought a new stake in Honest during the 3rd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC acquired a new position in Honest during the 3rd quarter worth $40,000. Finally, Panagora Asset Management Inc. acquired a new position in shares of Honest during the second quarter valued at $43,000. Institutional investors and hedge funds 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.