Honest (NASDAQ:HNST) Trading 3.1% Higher - Should You Buy?

The Honest Company, Inc. (NASDAQ:HNST - Get Free Report)'s stock price was up 3.1% on Friday . The stock traded as high as $6.70 and last traded at $6.70. Approximately 1,167,097 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 1,383,000 shares. The stock had previously closed at $6.50.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HNST shares. B. Riley upped their target price on Honest from $6.50 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday. Northland Capmk upgraded Honest to a "strong-buy" rating in a report on Tuesday, August 6th. Telsey Advisory Group raised their price objective on Honest from $4.00 to $6.00 and gave the company a "market perform" rating in a research note on Wednesday. Northland Securities increased their target price on shares of Honest from $6.50 to $7.50 and gave the company an "outperform" rating in a report on Wednesday. Finally, Alliance Global Partners boosted their price target on shares of Honest from $5.75 to $8.00 and gave the stock a "buy" rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Honest presently has a consensus rating of "Moderate Buy" and an average target price of $5.93.

Honest Price Performance

The stock has a market capitalization of $682.49 million, a P/E ratio of -176.50 and a beta of 1.85. The company has a 50 day simple moving average of $3.91 and a 200-day simple moving average of $3.49.

Insiders Place Their Bets

In related news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the sale, the insider now owns 9,869,803 shares of the company's stock, valued at approximately $34,544,310.50. This represents a 18.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Katherine Barton sold 16,185 shares of the firm'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 transaction of $69,271.80. Following the completion of the transaction, the insider now owns 916,820 shares of the company's stock, valued at $3,923,989.60. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,461,187 shares of company stock worth $8,739,880 over the last quarter. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HNST. Harbor Capital Advisors Inc. increased its holdings in shares of Honest by 122.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company's stock worth $784,000 after buying an additional 120,937 shares during the last quarter. Mainstream Capital Management LLC purchased a new stake in Honest during the 3rd quarter valued at about $843,000. Inspire Investing LLC bought a new position in Honest during the 3rd quarter worth approximately $806,000. Hillsdale Investment Management Inc. purchased a new position in Honest in the 1st quarter worth approximately $3,777,000. Finally, Dimensional Fund Advisors LP lifted its position in Honest by 68.1% in the second quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company's stock valued at $2,755,000 after purchasing an additional 382,418 shares during the last quarter. 45.54% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.