The Honest Company, Inc. (NASDAQ:HNST) Receives Consensus Rating of “Moderate Buy” from Brokerages

The Honest Company, Inc. (NASDAQ:HNST) has been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $5.93.

Several equities research analysts have recently commented on the company. B. Riley upped their price target on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday. Northland Securities upped their price target on Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday. Northland Capmk upgraded Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Telsey Advisory Group upped their price target on Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Alliance Global Partners increased their price objective on Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday.

Honest Trading Up 25.2 %

HNST stock opened at $6.01 on Thursday. Honest has a twelve month low of $1.39 and a twelve month high of $6.53. The business has a 50 day simple moving average of $3.86 and a 200-day simple moving average of $3.47. The company has a market capitalization of $601.48 million, a P/E ratio of -150.25 and a beta of 1.85.

Insiders Place Their Bets

In other news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total value of $8,050,000.00. Following the completion of the transaction, the insider now owns 9,869,803 shares in the company, valued at $34,544,310.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO David Loretta sold 75,656 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $323,807.68. Following the completion of the transaction, the chief financial officer now owns 987,757 shares in the company, valued at $4,227,599.96. This trade represents a 0.00 % 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, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value 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 approximately $34,544,310.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,461,187 shares of company stock worth $8,739,880. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Honest

Large investors have recently made changes to their positions in the stock. EntryPoint Capital LLC acquired a new stake in shares of Honest during the first quarter valued at $27,000. Creative Planning acquired a new stake in shares of Honest during the third quarter valued at $39,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Honest during the third quarter valued at $40,000. Panagora Asset Management Inc. acquired a new stake in shares of Honest during the second quarter valued at $43,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Honest during the first quarter valued at $52,000. 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.