Honest (NASDAQ:HNST) Earns “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Honest (NASDAQ:HNST) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $7.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on HNST. Alliance Global Partners upped their price objective on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. B. Riley upped their price objective on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Loop Capital cut Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a report on Tuesday, December 17th. Finally, Northland Securities upped their price objective on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Three research 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.93.

Honest Trading Down 5.1 %

HNST opened at $5.73 on Wednesday. The stock has a 50-day moving average price of $6.41 and a 200-day moving average price of $5.38. Honest has a 12-month low of $2.40 and a 12-month high of $8.97. The stock has a market capitalization of $578.00 million, a P/E ratio of -143.13 and a beta of 2.43.

Insider Buying and Selling

In related news, Director Jessica Warren sold 465,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the transaction, the director now directly owns 1,170,058 shares in the company, valued at $8,833,937.90. This trade represents a 28.44 % 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, General Counsel Brendan Sheehey sold 92,138 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $8.13, for a total value of $749,081.94. Following the transaction, the general counsel now owns 516,816 shares in the company, valued at approximately $4,201,714.08. The trade was a 15.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Honest

Several institutional investors and hedge funds have recently bought and sold shares of HNST. CWM LLC lifted its holdings in Honest by 279,400.0% in the 3rd quarter. CWM LLC now owns 22,360 shares of the company’s stock worth $80,000 after buying an additional 22,352 shares during the period. Creative Planning purchased a new position in shares of Honest in the 3rd quarter valued at approximately $39,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Honest in the 3rd quarter valued at approximately $40,000. US Bancorp DE purchased a new position in shares of Honest in the 3rd quarter valued at approximately $78,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Honest by 122.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company’s stock valued at $784,000 after purchasing an additional 120,937 shares during the period. Hedge funds and other 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.