Honest (NASDAQ:HNST) Lowered to Hold Rating by Loop Capital

Loop Capital downgraded shares of Honest (NASDAQ:HNST) from a buy rating to a hold rating in a research note published on Tuesday, Marketbeat.com reports. The brokerage currently has $7.00 price objective on the stock.

A number of other equities research analysts have also recently issued reports on the company. Telsey Advisory Group boosted 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, November 13th. Alliance Global Partners raised their price objective on shares of Honest from $5.75 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. B. Riley lifted their price objective on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Northland Securities increased their target price 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 given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.79.

Honest Price Performance

Shares of HNST opened at $7.09 on Tuesday. Honest has a 1 year low of $2.40 and a 1 year high of $8.97. The stock’s fifty day moving average price is $5.76 and its two-hundred day moving average price is $4.29. The firm has a market cap of $715.81 million, a PE ratio of -177.25 and a beta of 2.42.

Insider Transactions at Honest

In related news, Director Jessica Warren sold 465,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $8,833,937.90. The trade was a 28.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Winchell sold 7,123 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $7.10, for a total value of $50,573.30. Following the completion of the sale, the executive vice president now directly owns 382,613 shares in the company, valued at approximately $2,716,552.30. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 799,818 shares of company stock valued at $5,975,421. 8.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Honest

Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in shares of Honest by 117.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock worth $4,579,000 after acquiring an additional 846,300 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Honest by 1,504.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 851,436 shares of the company’s stock valued at $3,040,000 after purchasing an additional 798,384 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Honest by 706.1% during the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock worth $2,088,000 after purchasing an additional 627,464 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Honest by 68.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after purchasing an additional 382,418 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Honest by 216.0% during 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. Institutional investors own 45.54% of the company’s stock.

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.