Honest (NASDAQ:HNST) Price Target Lowered to $3.00 at Loop Capital

Honest (NASDAQ:HNST) had its price target lowered by Loop Capital from $5.00 to $3.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

HNST has been the subject of several other research reports. Alliance Global Partners initiated coverage on Honest in a research note on Tuesday, February 6th. They set a buy rating and a $5.75 target price for the company. Lake Street Capital initiated coverage on Honest in a research note on Thursday, April 4th. They set a buy rating and a $6.00 target price for the company. Telsey Advisory Group reaffirmed a market perform rating and set a $4.00 target price on shares of Honest in a research note on Wednesday, April 10th. Finally, Morgan Stanley increased their price target on Honest from $1.85 to $4.00 and gave the stock an equal weight rating in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $4.55.

Honest Stock Down 1.0 %

NASDAQ HNST opened at $3.03 on Friday. The business has a 50 day simple moving average of $3.65 and a 200 day simple moving average of $2.71. Honest has a one year low of $1.06 and a one year high of $4.89.

Honest (NASDAQ:HNST) last released its earnings results on Wednesday, March 6th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. Honest had a negative return on equity of 30.36% and a negative net margin of 11.39%. The business had revenue of $90.26 million during the quarter, compared to analysts’ expectations of $83.54 million. On average, equities analysts predict that Honest will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jessica Warren sold 23,324 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $3.24, for a total value of $75,569.76. Following the transaction, the insider now owns 1,905,237 shares in the company, valued at $6,172,967.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Stephen Winchell sold 19,665 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $3.24, for a total value of $63,714.60. Following the transaction, the executive vice president now owns 428,957 shares in the company, valued at $1,389,820.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica Warren sold 23,324 shares of the firm’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 $75,569.76. Following the completion of the transaction, the insider now owns 1,905,237 shares in the company, valued at approximately $6,172,967.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 803,229 shares of company stock worth $2,684,496. Corporate insiders own 14.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HNST. Renaissance Technologies LLC increased its position in shares of Honest by 386.1% during the second quarter. Renaissance Technologies LLC now owns 1,759,900 shares of the company’s stock valued at $5,139,000 after acquiring an additional 1,397,880 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Honest by 2,190.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,264,666 shares of the company’s stock valued at $4,173,000 after acquiring an additional 1,209,453 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Honest by 272.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 966,266 shares of the company’s stock valued at $2,908,000 after acquiring an additional 706,730 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of Honest by 46.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,035,000 shares of the company’s stock valued at $6,125,000 after acquiring an additional 649,000 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Honest by 88.5% during the second quarter. Marshall Wace LLP now owns 1,278,575 shares of the company’s stock valued at $2,148,000 after acquiring an additional 600,161 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.