Honest (NASDAQ:HNST) Shares Gap Up After Analyst Upgrade

The Honest Company, Inc. (NASDAQ:HNST)’s share price gapped up before the market opened on Thursday after B. Riley raised their price target on the stock from $6.50 to $7.00. The stock had previously closed at $6.01, but opened at $6.76. B. Riley currently has a buy rating on the stock. Honest shares last traded at $6.66, with a volume of 1,573,127 shares traded.

A number of other research firms have also recently issued reports on HNST. Alliance Global Partners lifted their target price on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday. Northland Securities lifted their price objective on Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a research report on Wednesday. Northland Capmk upgraded Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Telsey Advisory Group upped their price target 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 stock. Based on data from MarketBeat, Honest presently has an average rating of “Moderate Buy” and a consensus target price of $5.93.

Insider Buying and Selling

In other Honest news, EVP Stephen Winchell sold 6,938 shares of the company’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 transaction, the executive vice president now directly owns 414,736 shares in the company, valued at approximately $1,775,070.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Carla Vernon sold 52,751 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $225,774.28. Following the transaction, the chief executive officer now directly owns 2,828,319 shares in the company, valued at $12,105,205.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephen Winchell sold 6,938 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the completion of the sale, the executive vice president now owns 414,736 shares of the company’s stock, valued at $1,775,070.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,461,187 shares of company stock worth $8,739,880 over the last three months. 8.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Honest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PEAK6 Investments LLC acquired a new stake in shares of Honest in the 3rd quarter valued at approximately $191,000. MetLife Investment Management LLC increased its stake in Honest by 74.8% in the third quarter. MetLife Investment Management LLC now owns 37,235 shares of the company’s stock valued at $133,000 after purchasing an additional 15,930 shares in the last quarter. FMR LLC boosted its position in shares of Honest by 12.8% during the third quarter. FMR LLC now owns 219,742 shares of the company’s stock worth $784,000 after purchasing an additional 24,900 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of Honest by 7.1% during 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 in the last quarter. Finally, Algert Global LLC grew its holdings in shares of Honest by 98.7% in the 3rd quarter. Algert Global LLC now owns 126,122 shares of the company’s stock valued at $450,000 after buying an additional 62,650 shares during the period. Institutional investors own 45.54% of the company’s stock.

Honest Stock Performance

The firm has a market cap of $666.53 million, a P/E ratio of -166.50 and a beta of 1.85. The stock’s 50-day moving average is $3.86 and its 200 day moving average is $3.47.

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.