Loop Capital Downgrades Honest (NASDAQ:HNST) to Hold

Loop Capital lowered shares of Honest (NASDAQ:HNST) from a buy rating to a hold rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have $7.00 price target on the stock.

HNST has been the subject of a number of other reports. Alliance Global Partners upped their price target on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group upped their price objective on shares of Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. B. Riley increased their target price on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Northland Securities boosted their price target on Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.79.

Honest Price Performance

Shares of Honest stock opened at $7.09 on Tuesday. Honest has a one year low of $2.40 and a one year high of $8.97. The business’s 50 day simple moving average is $5.76 and its two-hundred day simple moving average is $4.29. The stock has a market capitalization of $715.81 million, a P/E ratio of -177.25 and a beta of 2.42.

Insider Transactions at Honest

In related news, General Counsel Brendan Sheehey sold 107,653 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.01, for a total value of $754,647.53. Following the completion of the transaction, the general counsel now directly owns 517,861 shares in the company, valued at $3,630,205.61. This trade represents a 17.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Carla Vernon sold 65,176 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total transaction of $462,749.60. Following the sale, the chief executive officer now directly owns 2,763,143 shares in the company, valued at $19,618,315.30. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 799,818 shares of company stock valued at $5,975,421. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in shares of Honest by 123.5% in the second quarter. SG Americas Securities LLC now owns 51,194 shares of the company’s stock worth $149,000 after acquiring an additional 28,290 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Honest in the 2nd quarter worth about $695,000. Panagora Asset Management Inc. purchased a new stake in Honest during the 2nd quarter valued at about $43,000. Rhumbline Advisers increased its stake in Honest by 2,486.2% during the 2nd quarter. Rhumbline Advisers now owns 104,481 shares of the company’s stock valued at $305,000 after purchasing an additional 100,441 shares in the last quarter. Finally, Acadian Asset Management LLC raised 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 worth $2,088,000 after buying an additional 627,464 shares during the last quarter. 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.