Honest (NASDAQ:HNST) Price Target Raised to $7.50 at Northland Securities

Honest (NASDAQ:HNST) had its price target raised by Northland Securities from $6.50 to $7.50 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued reports about the company. Alliance Global Partners lifted their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday. Northland Capmk upgraded Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, B. Riley assumed coverage on Honest in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.50 target price on the stock. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.93.

Honest Price Performance

Shares of HNST opened at $6.91 on Wednesday. Honest has a one year low of $1.40 and a one year high of $7.14. The firm has a market capitalization of $697.64 million, a P/E ratio of -172.75 and a beta of 1.85. The business has a fifty day moving average of $3.96 and a 200 day moving average of $3.52.

Insider Activity

In other news, EVP Stephen Winchell sold 6,938 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 value of $29,694.64. Following the transaction, the executive vice president now directly owns 414,736 shares in the company, valued at $1,775,070.08. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carla Vernon sold 52,751 shares of Honest stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $225,774.28. Following the completion of the sale, the chief executive officer now directly owns 2,828,319 shares in the company, valued at $12,105,205.32. This trade represents a 1.83 % 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 ninety days. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Honest

Several large investors have recently made changes to their positions in HNST. Hillsdale Investment Management Inc. bought a new stake in shares of Honest in the first quarter worth about $3,777,000. Renaissance Technologies LLC increased its holdings in shares of Honest by 117.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock worth $4,579,000 after purchasing an additional 846,300 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Honest by 1,504.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company’s stock worth $3,040,000 after purchasing an additional 798,384 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Honest by 706.1% in the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock worth $2,088,000 after purchasing an additional 627,464 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Honest by 68.1% in the second quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after purchasing an additional 382,418 shares during the last quarter. 45.54% of the stock is owned by institutional investors.

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.