Telsey Advisory Group Reaffirms "Market Perform" Rating for Honest (NASDAQ:HNST)

Telsey Advisory Group reissued their market perform rating on shares of Honest (NASDAQ:HNST - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $7.00 target price on the stock.

Other equities research analysts have also issued research reports about the company. Alliance Global Partners upped their target price on Honest from $5.75 to $8.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. B. Riley upped their price objective on Honest from $6.50 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Loop Capital lowered Honest from a "buy" rating to a "hold" rating and set a $7.00 price objective on the stock. in a research report on Tuesday, December 17th. Finally, Northland Securities upped their price objective on Honest from $7.50 to $9.50 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Honest presently has an average rating of "Moderate Buy" and an average target price of $6.93.

Honest Stock Performance

NASDAQ HNST traded down $0.31 during trading hours on Wednesday, reaching $5.73. The stock had a trading volume of 3,097,703 shares, compared to its average volume of 2,160,148. The stock has a fifty day moving average of $6.44 and a 200 day moving average of $5.36. The stock has a market cap of $578.00 million, a P/E ratio of -143.13 and a beta of 2.43. Honest has a 52-week low of $2.40 and a 52-week high of $8.97.

Insider Transactions at Honest

In other news, Director Jessica Warren sold 465,000 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Brendan Sheehey sold 92,138 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $8.13, for a total value of $749,081.94. Following the transaction, the general counsel now directly owns 516,816 shares of the company's stock, valued at approximately $4,201,714.08. The trade was a 15.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HNST. Connor Clark & Lunn Investment Management Ltd. raised its stake in Honest by 216.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 545,323 shares of the company's stock valued at $1,947,000 after purchasing an additional 372,749 shares during the last quarter. Walleye Capital LLC acquired a new position in Honest in the 3rd quarter valued at $260,000. Harbor Capital Advisors Inc. raised its stake in Honest by 122.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 219,697 shares of the company's stock valued at $784,000 after purchasing an additional 120,937 shares during the last quarter. Mainstream Capital Management LLC acquired a new position in Honest in the 3rd quarter valued at $843,000. Finally, ArrowMark Colorado Holdings LLC raised its stake in Honest by 6.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,163,968 shares of the company's stock valued at $11,295,000 after purchasing an additional 191,547 shares during the last quarter. 45.54% of the stock is owned by institutional investors and hedge funds.

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.