B. Riley Forecasts Strong Price Appreciation for Honest (NASDAQ:HNST) Stock

Honest (NASDAQ:HNST) had its price target upped by B. Riley from $6.50 to $7.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the company. Telsey Advisory Group boosted their price target on Honest from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday. Alliance Global Partners boosted their price target on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday. Northland Securities increased their price objective on Honest from $6.50 to $7.50 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Northland Capmk raised Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.93.

Honest Stock Performance

Shares of HNST stock opened at $6.91 on Wednesday. Honest has a fifty-two week low of $1.40 and a fifty-two week high of $7.14. The firm has a market capitalization of $697.64 million, a price-to-earnings ratio of -172.75 and a beta of 1.85. The stock’s 50-day simple moving average is $3.96 and its 200-day simple moving average is $3.52.

Insider Activity

In other Honest news, EVP Stephen Winchell sold 6,938 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 414,736 shares in the company, valued at approximately $1,775,070.08. The trade was a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Loretta sold 75,656 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $323,807.68. Following the completion of the sale, the chief financial officer now owns 987,757 shares in the company, valued at $4,227,599.96. This represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,461,187 shares of company stock valued at $8,739,880. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

Several institutional investors have recently added to or reduced their stakes in HNST. ArrowMark Colorado Holdings LLC grew its stake in shares of Honest by 6.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company’s stock valued at $11,295,000 after buying an additional 191,547 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Honest by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock worth $11,549,000 after buying an additional 268,600 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Honest by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock worth $6,468,000 after buying an additional 65,995 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Honest by 117.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock worth $4,579,000 after buying an additional 846,300 shares during the last quarter. Finally, State Street Corp raised its position in shares of Honest by 23.0% during the 3rd quarter. State Street Corp now owns 1,181,469 shares of the company’s stock worth $4,218,000 after purchasing an additional 220,699 shares during the period. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.