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

Honest (NASDAQ:HNST - Get Free Report)'s stock had its "market perform" rating reaffirmed by equities researchers at Telsey Advisory Group in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $4.00 price objective on the stock. Telsey Advisory Group's target price would indicate a potential upside of 27.80% from the company's previous close.

Other analysts have also issued research reports about the stock. Alliance Global Partners started coverage on shares of Honest in a research report on Tuesday, February 6th. They set a "buy" rating and a $5.75 target price for the company. Morgan Stanley boosted their target price on Honest from $1.85 to $4.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 7th. Loop Capital reduced their price objective on shares of Honest from $5.00 to $3.00 and set a "hold" rating on the stock in a research note on Friday, April 19th. Finally, Lake Street Capital began coverage on shares of Honest in a research note on Thursday, April 4th. They issued a "buy" rating and a $6.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Honest presently has an average rating of "Hold" and a consensus price target of $4.55.

Honest Trading Up 6.1 %

Honest stock traded up $0.18 during mid-day trading on Thursday, hitting $3.13. The stock had a trading volume of 2,351,155 shares, compared to its average volume of 981,158. The stock has a market capitalization of $303.70 million, a PE ratio of -7.45 and a beta of 1.91. Honest has a 12 month low of $1.06 and a 12 month high of $4.89. The stock has a 50-day simple moving average of $3.57 and a two-hundred day simple moving average of $2.88.

Honest (NASDAQ:HNST - Get Free Report) last issued its earnings results on Wednesday, March 6th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.09. Honest had a negative net margin of 11.39% and a negative return on equity of 30.36%. The company had revenue of $90.26 million for the quarter, compared to analyst estimates of $83.54 million. Sell-side analysts expect that Honest will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Brendan Sheehey sold 21,152 shares of the company's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $3.24, for a total value of $68,532.48. Following the completion of the transaction, the general counsel now directly owns 534,620 shares of the company's stock, valued at approximately $1,732,168.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Jessica Warren sold 253,815 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $2.99, for a total transaction of $758,906.85. Following the completion of the transaction, the insider now directly owns 1,109,489 shares in the company, valued at approximately $3,317,372.11. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Brendan Sheehey sold 21,152 shares of Honest stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $3.24, for a total value of $68,532.48. Following the completion of the sale, the general counsel now directly owns 534,620 shares in the company, valued at approximately $1,732,168.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 803,229 shares of company stock worth $2,684,496. Company insiders own 8.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HNST. Barclays PLC acquired a new stake in shares of Honest during the third quarter worth $110,000. Pathstone Family Office LLC raised its position in shares of Honest by 159.4% in the 3rd quarter. Pathstone Family Office LLC now owns 64,860 shares of the company's stock valued at $82,000 after buying an additional 39,860 shares in the last quarter. Wade G W & Inc. lifted its holdings in shares of Honest by 69.2% during the 3rd quarter. Wade G W & Inc. now owns 185,605 shares of the company's stock worth $234,000 after acquiring an additional 75,935 shares during the period. Prime Capital Investment Advisors LLC acquired a new stake in shares of Honest during the 3rd quarter worth approximately $89,000. Finally, GSA Capital Partners LLP increased its stake in Honest by 25.3% in the third quarter. GSA Capital Partners LLP now owns 1,078,733 shares of the company's stock valued at $1,359,000 after acquiring an additional 217,721 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.