The Honest Company, Inc. (NASDAQ:HNST) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of The Honest Company, Inc. (NASDAQ:HNST) have received an average rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $6.93.

Several equities analysts have weighed in on HNST shares. Alliance Global Partners raised their target price on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Loop Capital downgraded Honest from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research report on Tuesday, December 17th. B. Riley increased their target price on Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Northland Securities boosted their price target on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Telsey Advisory Group increased their price objective on Honest from $6.00 to $7.00 and gave the company a “market perform” rating in a research note on Friday, January 10th.

Honest Stock Performance

HNST opened at $6.16 on Tuesday. Honest has a one year low of $2.40 and a one year high of $8.97. The company has a market cap of $621.91 million, a price-to-earnings ratio of -154.00 and a beta of 2.43. The business’s fifty day moving average is $6.91 and its two-hundred day moving average is $5.16.

Insider Buying and Selling at Honest

In related news, EVP Stephen Winchell sold 7,123 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $7.10, for a total value of $50,573.30. Following the transaction, the executive vice president now directly owns 382,613 shares of the company’s stock, valued at approximately $2,716,552.30. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Brendan Sheehey sold 107,653 shares of Honest stock in a transaction on Monday, November 18th. The shares were sold at an average price of $7.01, for a total value of $754,647.53. Following the completion of the transaction, the general counsel now owns 517,861 shares in the company, valued at $3,630,205.61. The trade was a 17.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 799,818 shares of company stock worth $5,975,421 in the last 90 days. 8.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HNST. Olympiad Research LP purchased a new stake in Honest during the fourth quarter worth approximately $168,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Honest during the 4th quarter valued at $1,019,000. Ieq Capital LLC boosted its position in Honest by 61.3% during the 4th quarter. Ieq Capital LLC now owns 130,651 shares of the company’s stock worth $905,000 after purchasing an additional 49,673 shares during the period. New York State Common Retirement Fund increased its holdings in Honest by 39.3% in the 4th quarter. New York State Common Retirement Fund now owns 197,346 shares of the company’s stock valued at $1,368,000 after purchasing an additional 55,699 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Honest in the fourth quarter valued at about $756,000. 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.