Honest (NASDAQ:HNST) Stock Price Expected to Rise, Telsey Advisory Group Analyst Says

Honest (NASDAQ:HNST) had its price objective lifted by research analysts at Telsey Advisory Group from $4.00 to $6.00 in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a “market perform” rating on the stock. Telsey Advisory Group’s price target would suggest a potential upside of 25.00% from the stock’s current price.

A number of other equities analysts also recently weighed in on HNST. Northland Securities boosted their target price on Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday. Northland Capmk upgraded Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Alliance Global Partners upped their price objective on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, B. Riley started coverage on Honest in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.50 price objective on the stock. Two 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.86.

Honest Stock Performance

Shares of HNST opened at $4.80 on Wednesday. The stock has a 50 day moving average price of $3.82 and a two-hundred day moving average price of $3.45. The firm has a market capitalization of $480.38 million, a P/E ratio of -36.92 and a beta of 1.85. Honest has a 52 week low of $1.21 and a 52 week high of $5.04.

Insiders Place Their Bets

In other Honest news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the stock in a transaction on 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 in the company, valued at $34,544,310.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value of $8,050,000.00. Following the transaction, the insider now owns 9,869,803 shares of the company’s stock, valued at approximately $34,544,310.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Brendan Sheehey sold 8,176 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $34,993.28. Following the completion of the transaction, the general counsel now directly owns 517,861 shares in the company, valued at approximately $2,216,445.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,461,187 shares of company stock worth $8,739,880 over the last 90 days. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

A number of large investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd grew its stake in shares of Honest by 7.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock worth $288,000 after purchasing an additional 5,330 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Honest in the first quarter worth $27,000. Charles Schwab Investment Management Inc. boosted its holdings in Honest by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock valued at $805,000 after acquiring an additional 7,379 shares in the last quarter. XTX Topco Ltd increased its position in Honest by 6.4% during the 2nd quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock valued at $402,000 after purchasing an additional 8,282 shares during the period. Finally, Creative Planning purchased a new position in Honest during the 3rd quarter valued at $39,000. 45.54% of the stock is owned by hedge funds and other institutional investors.

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.