Northland Securities Issues Positive Forecast for Honest (NASDAQ:HNST) Stock Price

Honest (NASDAQ:HNST) had its price objective hoisted by Northland Securities from $6.50 to $7.50 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also weighed in on the company. Northland Capmk upgraded Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. B. Riley started coverage on shares of Honest in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.50 price target for the company. Finally, Alliance Global Partners raised their price objective on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday. Two investment 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. Based on data from MarketBeat, Honest currently has a consensus rating of “Moderate Buy” and an average target price of $5.93.

Honest Trading Up 25.2 %

Shares of Honest stock opened at $6.01 on Wednesday. The company’s 50-day moving average price is $3.86 and its 200-day moving average price is $3.47. Honest has a 12-month low of $1.39 and a 12-month high of $6.53. The company has a market cap of $601.48 million, a price-to-earnings ratio of -150.25 and a beta of 1.85.

Insider Activity

In related news, EVP Stephen Winchell sold 6,938 shares of Honest stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the transaction, the executive vice president now owns 414,736 shares in the company, valued at $1,775,070.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Stephen Winchell sold 6,938 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 $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 available through the SEC website. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of Honest 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 directly owns 9,869,803 shares in the company, valued at $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. In the last 90 days, insiders sold 2,461,187 shares of company stock valued at $8,739,880. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

Institutional investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. purchased a new stake in Honest in the 1st quarter worth approximately $3,777,000. Renaissance Technologies LLC lifted its stake in Honest by 117.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock worth $4,579,000 after acquiring an additional 846,300 shares during the period. Acadian Asset Management LLC boosted its holdings in Honest by 706.1% in the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock valued at $2,088,000 after acquiring an additional 627,464 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Honest by 973.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 430,090 shares of the company’s stock valued at $1,742,000 after purchasing an additional 390,022 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Honest by 68.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after purchasing an additional 382,418 shares in the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.