Honest’s (HNST) “Market Perform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Honest (NASDAQ:HNST) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $3.00 price target on the stock.

Several other brokerages have also recently issued reports on HNST. Lake Street Capital cut shares of Honest from a “buy” rating to a “hold” rating and set a $3.00 target price on the stock. in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Honest in a research report on Thursday, January 22nd. Morgan Stanley cut their price target on shares of Honest from $4.25 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 19th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Honest in a research report on Friday, January 16th. Finally, Zacks Research lowered shares of Honest from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Honest presently has a consensus rating of “Reduce” and a consensus target price of $3.00.

Honest Price Performance

HNST opened at $2.27 on Thursday. The stock’s 50 day simple moving average is $2.50 and its 200 day simple moving average is $3.13. The firm has a market cap of $253.77 million, a price-to-earnings ratio of 37.83 and a beta of 2.30. Honest has a 1 year low of $2.07 and a 1 year high of $6.22.

Institutional Investors Weigh In On Honest

Several institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. increased its position in shares of Honest by 45.9% during the fourth quarter. Invesco Ltd. now owns 186,991 shares of the company’s stock valued at $482,000 after buying an additional 58,784 shares during the period. Inspire Investing LLC lifted its holdings in Honest by 47.1% in the fourth quarter. Inspire Investing LLC now owns 181,076 shares of the company’s stock worth $467,000 after buying an additional 57,956 shares during the period. Balyasny Asset Management L.P. boosted its position in Honest by 796.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,006,646 shares of the company’s stock valued at $5,177,000 after acquiring an additional 1,782,742 shares in the last quarter. Abel Hall LLC purchased a new position in shares of Honest during the 4th quarter worth approximately $60,000. Finally, Mak Capital One LLC purchased a new position in shares of Honest during the 4th quarter worth approximately $9,104,000. 45.54% of the stock is owned by hedge funds and other institutional investors.

Honest Company Profile

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.