Honest’s (HNST) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Honest (NASDAQ:HNST) in a research note released on Wednesday,Benzinga reports. They currently have a $7.00 price target on the stock.

Several other brokerages also recently weighed in on HNST. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a research report on Tuesday, December 17th. Northland Securities increased their price objective on shares of Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. 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 report on Wednesday, November 13th. Finally, B. Riley increased their price target on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.93.

Honest Stock Performance

Shares of HNST stock opened at $6.19 on Wednesday. Honest has a fifty-two week low of $2.40 and a fifty-two week high of $8.97. The firm has a market capitalization of $624.94 million, a PE ratio of -154.75 and a beta of 2.43. The stock’s 50-day simple moving average is $6.46 and its 200-day simple moving average is $5.35.

Insider Activity at Honest

In other news, Director Jessica Warren sold 465,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the sale, the director now directly owns 1,170,058 shares of the company’s stock, valued at $8,833,937.90. This represents a 28.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Brendan Sheehey sold 92,138 shares of Honest stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $8.13, for a total value of $749,081.94. Following the completion of the transaction, the general counsel now owns 516,816 shares of the company’s stock, valued at approximately $4,201,714.08. This represents a 15.13 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Valmark Advisers Inc. increased its holdings in Honest by 1.7% in the 4th quarter. Valmark Advisers Inc. now owns 163,015 shares of the company’s stock worth $1,130,000 after acquiring an additional 2,735 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Honest by 6.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,706 shares of the company’s stock worth $324,000 after purchasing an additional 2,761 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Honest during the 4th quarter worth about $26,000. Dynamic Technology Lab Private Ltd raised its position in shares of Honest by 7.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock worth $288,000 after purchasing an additional 5,330 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Honest by 30.1% in the 4th quarter. Legal & General Group Plc now owns 26,571 shares of the company’s stock valued at $184,000 after buying an additional 6,146 shares in the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.