Honest (NASDAQ:HNST) Stock Price Expected to Rise, Northland Securities Analyst Says

Honest (NASDAQ:HNST) had its price objective boosted by equities researchers at Northland Securities from $6.50 to $7.50 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price target points to a potential upside of 15.38% from the stock’s previous close.

HNST has been the subject of a number of other reports. Alliance Global Partners boosted their target price on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday. B. Riley began coverage on Honest in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.50 price objective for the company. Finally, Northland Capmk raised Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Stock Performance

HNST stock opened at $6.50 on Wednesday. The stock’s fifty day moving average is $3.91 and its two-hundred day moving average is $3.49. The stock has a market capitalization of $650.52 million, a price-to-earnings ratio of -162.50 and a beta of 1.85. Honest has a 1 year low of $1.40 and a 1 year high of $6.77.

Insider Activity at Honest

In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the completion of the transaction, the insider now owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This trade represents a 18.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Brendan Sheehey sold 8,176 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $34,993.28. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 2,461,187 shares of company stock worth $8,739,880 over the last quarter. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its position in shares of Honest by 122.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company’s stock valued at $784,000 after acquiring an additional 120,937 shares during the last quarter. Mainstream Capital Management LLC acquired a new position in shares of Honest in the 3rd quarter valued at $843,000. Inspire Investing LLC purchased a new position in Honest in the 3rd quarter worth about $806,000. Hillsdale Investment Management Inc. acquired a new stake in Honest during the 1st quarter worth about $3,777,000. Finally, Dimensional Fund Advisors LP raised its holdings in Honest by 68.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after buying an additional 382,418 shares during the period. Institutional investors and hedge funds 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.