Honest (NASDAQ:HNST) Price Target Raised to $8.00 at Alliance Global Partners

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

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

Honest Stock Performance

Shares of HNST stock opened at $6.01 on Wednesday. The stock has a fifty day moving average price of $3.86 and a 200 day moving average price of $3.47. The stock has a market cap of $601.48 million, a PE ratio of -150.25 and a beta of 1.85. Honest has a 1 year low of $1.39 and a 1 year high of $6.53.

Insider Buying and Selling at Honest

In related news, CFO David Loretta sold 75,656 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $323,807.68. Following the transaction, the chief financial officer now directly owns 987,757 shares of the company’s stock, valued at approximately $4,227,599.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO David Loretta sold 75,656 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $323,807.68. Following the transaction, the chief financial officer now owns 987,757 shares of the company’s stock, valued at approximately $4,227,599.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s 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 directly owns 9,869,803 shares of the company’s stock, valued at approximately $34,544,310.50. This trade represents a 0.00 % decrease in their ownership of the stock. 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 in the last quarter. 8.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Honest

Several hedge funds and other institutional investors have recently bought and sold shares of HNST. EntryPoint Capital LLC acquired a new stake in shares of Honest during the first quarter valued at about $27,000. Creative Planning acquired a new stake in Honest during the 3rd quarter valued at approximately $39,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Honest during the 3rd quarter worth approximately $40,000. Panagora Asset Management Inc. acquired a new position in shares of Honest in the 2nd quarter valued at approximately $43,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Honest during the 1st quarter valued at approximately $52,000. 45.54% of the stock is owned by institutional investors and hedge funds.

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.