Northland Securities Forecasts Strong Price Appreciation for Honest (NASDAQ:HNST) Stock

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

HNST has been the subject of several other research reports. B. Riley began coverage on Honest in a research note on Tuesday, September 10th. They set a “buy” rating and a $6.50 target price for the company. Northland Capmk raised Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Alliance Global Partners upped their price objective on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.93.

Honest Stock Up 6.3 %

HNST stock opened at $6.91 on Wednesday. The company has a market cap of $697.64 million, a PE ratio of -172.75 and a beta of 1.85. Honest has a 52 week low of $1.40 and a 52 week high of $7.14. The business has a 50-day simple moving average of $3.96 and a 200 day simple moving average of $3.52.

Insiders Place Their Bets

In other Honest news, EVP Stephen Winchell sold 6,938 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $29,694.64. Following the transaction, the executive vice president now directly owns 414,736 shares in the company, valued at approximately $1,775,070.08. This represents a 1.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $3.50, for a total value 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 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,461,187 shares of company stock worth $8,739,880. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

Large investors have recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in shares of Honest in the 1st quarter worth $27,000. Zacks Investment Management bought a new position in shares of Honest in the 3rd quarter worth $37,000. Creative Planning purchased a new stake in Honest in the 3rd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Honest in the 3rd quarter valued at $40,000. Finally, Lazard Asset Management LLC purchased a new stake in Honest in the 1st quarter valued at $52,000. 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.