Honest (NASDAQ:HNST) Stock Price Expected to Rise, Alliance Global Partners Analyst Says

Honest (NASDAQ:HNST - Get Free Report) had its target price boosted by research analysts at Alliance Global Partners from $5.75 to $8.00 in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has a "buy" rating on the stock. Alliance Global Partners' price objective indicates a potential upside of 35.36% from the company's current price.

Several other equities research analysts have also issued reports on HNST. Northland Securities initiated coverage on shares of Honest in a report on Tuesday, August 6th. They set an "outperform" rating and a $6.00 price target on the stock. B. Riley initiated coverage on shares of Honest in a report on Tuesday, September 10th. They set a "buy" rating and a $6.50 target price on the stock. Finally, Northland Capmk raised shares of Honest to a "strong-buy" rating in a report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the 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 Stock Performance

Shares of Honest stock traded up $1.11 during midday trading on Wednesday, hitting $5.91. 13,677,422 shares of the company traded hands, compared to its average volume of 1,341,814. The stock has a market cap of $591.47 million, a price-to-earnings ratio of -151.00 and a beta of 1.85. The firm's fifty day moving average price is $3.82 and its 200-day moving average price is $3.45. Honest has a 12 month low of $1.39 and a 12 month high of $6.53.

Insider Transactions at Honest

In other news, EVP Stephen Winchell sold 6,938 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total value of $29,694.64. Following the transaction, the executive vice president now owns 414,736 shares in the company, valued at approximately $1,775,070.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the business's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the transaction, the insider now owns 9,869,803 shares in the company, valued at $34,544,310.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen Winchell sold 6,938 shares of the business's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $29,694.64. Following the transaction, the executive vice president now owns 414,736 shares in the company, valued at $1,775,070.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,461,187 shares of company stock worth $8,739,880. Company insiders own 8.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HNST. EntryPoint Capital LLC acquired a new position in shares of Honest during the 1st quarter valued at $27,000. Creative Planning acquired a new position in shares of Honest during the 3rd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Honest during the 3rd quarter valued at $40,000. Panagora Asset Management Inc. acquired a new position in shares of Honest during the 2nd quarter valued at $43,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Honest during the 1st quarter valued at $52,000. Institutional investors and hedge funds 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.