B. Riley Issues Positive Forecast for Honest (NASDAQ:HNST) Stock Price

Honest (NASDAQ:HNST) had its price objective upped by B. Riley from $6.50 to $7.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also 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 report on Wednesday. Alliance Global Partners boosted their price objective 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 shares of Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Telsey Advisory Group boosted their target price on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Price Performance

Honest stock opened at $6.01 on Wednesday. Honest has a one year low of $1.39 and a one year high of $6.53. The company’s fifty day moving average price is $3.86 and its two-hundred day moving average price is $3.47. The company has a market capitalization of $601.48 million, a price-to-earnings ratio of -150.25 and a beta of 1.85.

Insider Activity at Honest

In other Honest news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total value of $8,050,000.00. Following the completion of the transaction, the insider now owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Stephen Winchell sold 6,938 shares of the firm’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 $29,694.64. Following the completion of the transaction, the executive vice president now directly owns 414,736 shares of the company’s stock, valued at approximately $1,775,070.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the completion of the sale, the insider now directly owns 9,869,803 shares in the company, valued at approximately $34,544,310.50. The trade was a 0.00 % 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 worth $8,739,880. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC bought a new stake in shares of Honest in the 1st quarter valued at approximately $27,000. Creative Planning bought a new stake in Honest in the third quarter valued at $39,000. Wealth Enhancement Advisory Services LLC acquired a new position in Honest during the third quarter worth $40,000. Lazard Asset Management LLC bought a new position in shares of Honest during the first quarter valued at $52,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Honest in the 2nd quarter valued at $43,000. Institutional investors 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.