Honest’s (HNST) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Honest (NASDAQ:HNST) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $4.00 target price on the stock.

A number of other brokerages have also weighed in on HNST. Alliance Global Partners started coverage on Honest in a research report on Tuesday, February 6th. They set a buy rating and a $5.75 price objective on the stock. Lake Street Capital initiated coverage on Honest in a report on Thursday, April 4th. They set a buy rating and a $6.00 price target on the stock. Morgan Stanley raised their price objective on shares of Honest from $1.85 to $4.00 and gave the company an equal weight rating in a report on Thursday, March 7th. Finally, Loop Capital boosted their target price on shares of Honest from $4.00 to $5.00 and gave the stock a hold rating in a report on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Honest has a consensus rating of Hold and a consensus price target of $4.95.

Honest Trading Down 7.3 %

Shares of Honest stock opened at $3.45 on Wednesday. The firm’s 50 day moving average is $3.65 and its 200 day moving average is $2.62. The firm has a market capitalization of $330.75 million, a PE ratio of -8.21 and a beta of 1.83. Honest has a 1 year low of $1.06 and a 1 year high of $4.89.

Honest (NASDAQ:HNST) last posted its earnings results on Wednesday, March 6th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The firm had revenue of $90.26 million for the quarter, compared to analysts’ expectations of $83.54 million. Honest had a negative net margin of 11.39% and a negative return on equity of 30.36%. As a group, research analysts anticipate that Honest will post -0.18 earnings per share for the current year.

Insider Activity

In other news, General Counsel Brendan Sheehey sold 21,152 shares of the business’s stock in a transaction that occurred 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 transaction, the general counsel now owns 534,620 shares in the company, valued at approximately $1,732,168.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Honest 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 transaction of $68,532.48. Following the sale, the general counsel now owns 534,620 shares of the company’s stock, valued at $1,732,168.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Winchell sold 19,665 shares of Honest stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $3.24, for a total value of $63,714.60. Following the completion of the transaction, the executive vice president now directly owns 428,957 shares of the company’s stock, valued at $1,389,820.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 273,301 shares of company stock valued at $1,077,922. Company insiders own 26.20% of the company’s stock.

Hedge Funds Weigh In On Honest

Institutional investors have recently added to or reduced their stakes in the business. Green Alpha Advisors LLC grew its position in shares of Honest by 1.3% during the 1st quarter. Green Alpha Advisors LLC now owns 415,148 shares of the company’s stock worth $1,681,000 after buying an additional 5,249 shares during the period. Vanguard Group Inc. grew its holdings in Honest by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 2,582,901 shares of the company’s stock worth $8,524,000 after purchasing an additional 149,711 shares during the period. Virtu Financial LLC bought a new stake in Honest in the fourth quarter valued at $75,000. Wexford Capital LP bought a new stake in Honest in the fourth quarter valued at $77,000. Finally, Pathstone Holdings LLC acquired a new position in shares of Honest during the fourth quarter valued at about $663,000. 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.