Honest (NASDAQ:HNST) Shares Up 3.5% – What’s Next?

The Honest Company, Inc. (NASDAQ:HNST)’s stock price was up 3.5% during trading on Thursday . The stock traded as high as $6.54 and last traded at $6.53. Approximately 179,942 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 2,105,862 shares. The stock had previously closed at $6.31.

Analyst Ratings Changes

Several research analysts have commented on HNST shares. B. Riley raised their price objective on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Loop Capital downgraded Honest from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research note on Tuesday, December 17th. Northland Securities lifted their price target on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Alliance Global Partners lifted their price target on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Telsey Advisory Group lifted their price target on Honest from $6.00 to $7.00 and gave the stock a “market perform” rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.93.

Honest Stock Up 1.3 %

The stock has a 50 day simple moving average of $6.96 and a 200 day simple moving average of $4.86. The company has a market capitalization of $645.64 million, a price-to-earnings ratio of -159.88 and a beta of 2.45.

Insider Buying and Selling at Honest

In other Honest news, Director Jessica Warren sold 465,000 shares of Honest stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total value of $3,510,750.00. Following the completion of the transaction, the director now directly owns 1,170,058 shares in the company, valued at $8,833,937.90. The trade was a 28.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Brendan Sheehey sold 107,653 shares of Honest stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.01, for a total value of $754,647.53. Following the sale, the general counsel now directly owns 517,861 shares in the company, valued at approximately $3,630,205.61. This trade represents a 17.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 799,818 shares of company stock worth $5,975,421 over the last ninety days. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

Hedge funds have recently made changes to their positions in the business. Zacks Investment Management bought a new stake in shares of Honest during the third quarter valued at approximately $37,000. Creative Planning bought a new stake in shares of Honest during the third quarter valued at approximately $39,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Honest during the third quarter valued at approximately $40,000. Castleview Partners LLC bought a new stake in shares of Honest during the third quarter valued at approximately $71,000. Finally, US Bancorp DE bought a new stake in shares of Honest during the third quarter valued at approximately $78,000. 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.