Honest (NASDAQ:HNST) Reaches New 52-Week High After Analyst Upgrade

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) shares hit a new 52-week high on Wednesday after B. Riley raised their price target on the stock from $6.50 to $7.00. B. Riley currently has a buy rating on the stock. Honest traded as high as $5.89 and last traded at $5.89, with a volume of 428225 shares. The stock had previously closed at $4.80.

Other analysts also recently issued reports about the stock. Northland Capmk raised shares of Honest to a "strong-buy" rating in a research report on Tuesday, August 6th. Northland Securities raised their price objective on shares of Honest from $6.50 to $7.50 and gave the stock an "outperform" rating in a report on Wednesday. Telsey Advisory Group increased their price target on shares of Honest from $4.00 to $6.00 and gave the stock a "market perform" rating in a research report on Wednesday. Finally, 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. Two research 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 company. According to data from MarketBeat.com, Honest currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.93.

Insider Buying and Selling at Honest

In other news, CFO David Loretta sold 75,656 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 $323,807.68. Following the sale, the chief financial officer now directly owns 987,757 shares of the company's stock, valued at $4,227,599.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Honest news, CEO Carla Vernon sold 52,751 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total value of $225,774.28. Following the sale, the chief executive officer now directly owns 2,828,319 shares of the company's stock, valued at approximately $12,105,205.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Loretta sold 75,656 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $323,807.68. Following the completion of the sale, the chief financial officer now directly owns 987,757 shares of the company's stock, valued at approximately $4,227,599.96. The trade was a 0.00 % decrease in their position. 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 quarter. Insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On Honest

Several large investors have recently bought and sold shares of HNST. FMR LLC boosted its stake in Honest by 12.8% during the third quarter. FMR LLC now owns 219,742 shares of the company's stock worth $784,000 after buying an additional 24,900 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in 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 buying an additional 5,330 shares during the period. Algert Global LLC raised its stake in shares of Honest by 98.7% in the third quarter. Algert Global LLC now owns 126,122 shares of the company's stock valued at $450,000 after acquiring an additional 62,650 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Honest by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company's stock valued at $805,000 after buying an additional 7,379 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Honest during the 3rd quarter worth approximately $103,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Honest Stock Up 25.2 %

The stock has a market cap of $601.48 million, a PE ratio of -151.00 and a beta of 1.85. The firm has a fifty day moving average of $3.82 and a 200 day moving average of $3.45.

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.