Honest (NASDAQ:HNST) Sets New 12-Month High – Should You Buy?

The Honest Company, Inc. (NASDAQ:HNST) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.47 and last traded at $7.45, with a volume of 1902216 shares trading hands. The stock had previously closed at $7.20.

Wall Street Analyst Weigh In

HNST has been the subject of several analyst reports. Alliance Global Partners boosted their target price on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Telsey Advisory Group boosted their price target on shares of Honest from $4.00 to $6.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. B. Riley boosted their price target on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Northland Securities upped their target price on shares of Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Northland Capmk raised shares of Honest to a “strong-buy” rating in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.93.

Honest Price Performance

The stock’s 50-day simple moving average is $4.03 and its 200 day simple moving average is $3.56.

Insider Buying and Selling at Honest

In other Honest news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total transaction of $8,050,000.00. Following the sale, the insider now directly owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This trade represents a 18.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Loretta sold 75,656 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $323,807.68. Following the sale, the chief financial officer now directly owns 987,757 shares of the company’s stock, valued at $4,227,599.96. This represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,461,187 shares of company stock worth $8,739,880 over the last three months. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Honest

Several hedge funds and other institutional investors have recently made changes to their positions in HNST. Dynamic Technology Lab Private Ltd lifted its holdings in Honest by 7.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 80,544 shares of the company’s stock worth $288,000 after buying an additional 5,330 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Honest during the 1st quarter valued at about $27,000. Charles Schwab Investment Management Inc. grew its position in Honest by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 225,567 shares of the company’s stock worth $805,000 after purchasing an additional 7,379 shares during the last quarter. XTX Topco Ltd grew its position in Honest by 6.4% in the 2nd quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock worth $402,000 after purchasing an additional 8,282 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of Honest in the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.