Honest (NASDAQ:HNST) Sets New 52-Week High – Should You Buy?

The Honest Company, Inc. (NASDAQ:HNST)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $8.48 and last traded at $8.48, with a volume of 64766 shares changing hands. The stock had previously closed at $8.15.

Analyst Upgrades and Downgrades

HNST has been the topic of several recent research reports. Northland Securities raised their price objective on Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. B. Riley lifted their price target on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Northland Capmk raised shares of Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Alliance Global Partners lifted 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, November 13th. Finally, Telsey Advisory Group increased 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, November 13th. Two equities research 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. Based on data from MarketBeat, Honest has an average rating of “Moderate Buy” and a consensus price target of $5.93.

Honest Price Performance

The stock has a 50-day moving average price of $4.41 and a two-hundred day moving average price of $3.73. The stock has a market cap of $839.99 million, a PE ratio of -208.00 and a beta of 1.85.

Insider Transactions at Honest

In other news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 9,869,803 shares in the company, valued at approximately $34,544,310.50. This represents a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James D. White sold 25,000 shares of Honest stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $7.19, for a total transaction of $179,750.00. Following the sale, the director now owns 284,244 shares of the company’s stock, valued at $2,043,714.36. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,542,680 shares of company stock worth $9,765,589. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Honest

A number of institutional investors and hedge funds have recently bought and sold shares of the company. ArrowMark Colorado Holdings LLC increased its stake in shares of Honest by 6.4% during 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 during the period. Vanguard Group Inc. raised its holdings in shares of Honest by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 2,851,501 shares of the company’s stock valued at $11,549,000 after purchasing an additional 268,600 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Honest by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,811,621 shares of the company’s stock worth $6,468,000 after purchasing an additional 65,995 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Honest by 117.3% during the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock valued at $4,579,000 after purchasing an additional 846,300 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Honest by 23.0% during the third quarter. State Street Corp now owns 1,181,469 shares of the company’s stock valued at $4,218,000 after purchasing an additional 220,699 shares in the last quarter. 45.54% of the stock is owned by institutional investors.

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.