Alliance Global Partners Forecasts Strong Price Appreciation for Honest (NASDAQ:HNST) Stock

Honest (NASDAQ:HNST) had its price objective boosted by equities research analysts at Alliance Global Partners from $5.75 to $8.00 in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the stock. Alliance Global Partners’ price objective suggests a potential upside of 66.67% from the stock’s previous close.

Other analysts have also issued research reports about the company. Northland Securities began coverage on Honest in a report on Tuesday, August 6th. They set an “outperform” rating and a $6.00 price objective for the company. Northland Capmk raised Honest to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, B. Riley assumed coverage on Honest in a research report on Tuesday, September 10th. They issued a “buy” rating and a $6.50 target price on the stock. Two investment 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.57.

Honest Trading Down 1.2 %

Shares of HNST opened at $4.80 on Wednesday. Honest has a 12 month low of $1.21 and a 12 month high of $5.04. The stock has a fifty day moving average price of $3.82 and a 200-day moving average price of $3.45. The firm has a market cap of $480.38 million, a PE ratio of -36.92 and a beta of 1.85.

Insiders Place Their Bets

In other news, General Counsel Brendan Sheehey sold 8,176 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $34,993.28. Following the sale, the general counsel now directly owns 517,861 shares in the company, valued at $2,216,445.08. This trade represents 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. In other news, CEO Carla Vernon sold 52,751 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $225,774.28. Following the sale, the chief executive officer now directly owns 2,828,319 shares in the company, valued at $12,105,205.32. This trade represents 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, General Counsel Brendan Sheehey sold 8,176 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $34,993.28. Following the completion of the transaction, the general counsel now directly owns 517,861 shares in the company, valued at $2,216,445.08. This represents a 0.00 % 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 valued at $8,739,880. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EntryPoint Capital LLC purchased a new position in Honest in the 1st quarter valued at about $27,000. Creative Planning purchased a new position in Honest in the 3rd quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC purchased a new position in Honest in the 3rd quarter worth approximately $40,000. Lazard Asset Management LLC purchased a new position in Honest in the 1st quarter worth approximately $52,000. Finally, Panagora Asset Management Inc. purchased a new position in Honest in the 2nd quarter worth approximately $43,000. 45.54% of the stock is owned by hedge funds and other 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.