Honest (NASDAQ:HNST) Price Target Raised to $6.00

Honest (NASDAQ:HNST) had its price objective upped by Telsey Advisory Group from $4.00 to $6.00 in a report issued on Wednesday morning, Marketbeat.com reports. They currently have a market perform rating on the stock. Telsey Advisory Group also issued estimates for Honest’s FY2024 earnings at ($0.07) EPS and FY2025 earnings at $0.00 EPS.

Other research analysts have also recently issued reports about the company. Northland Securities boosted their price target on Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a report on Wednesday. Northland Capmk raised Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Alliance Global Partners increased their price target on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, B. Riley started coverage on Honest in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.50 price target on the stock. Two research 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.93.

Honest Stock Up 6.3 %

Honest stock opened at $6.91 on Wednesday. The business has a 50-day simple moving average of $3.96 and a two-hundred day simple moving average of $3.52. The company has a market cap of $697.64 million, a P/E ratio of -172.75 and a beta of 1.85. Honest has a 52-week low of $1.40 and a 52-week high of $7.14.

Insider Transactions at Honest

In related news, General Counsel Brendan Sheehey sold 8,176 shares of Honest 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 $34,993.28. Following the transaction, the general counsel now owns 517,861 shares in the company, valued at approximately $2,216,445.08. This trade represents a 1.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Stephen Winchell sold 6,938 shares of Honest stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 approximately $1,775,070.08. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,461,187 shares of company stock valued at $8,739,880 over the last ninety days. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HNST. SG Americas Securities LLC purchased a new stake in Honest in the first quarter valued at $93,000. Vanguard Group Inc. raised its position in Honest by 10.4% in the first quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock valued at $11,549,000 after purchasing an additional 268,600 shares during the period. Acadian Asset Management LLC purchased a new stake in Honest in the first quarter valued at $359,000. Hillsdale Investment Management Inc. purchased a new stake in Honest in the first quarter valued at $3,777,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Honest in the first quarter valued at $27,000. 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.