Honest (NASDAQ:HNST) Receives Market Perform Rating from Telsey Advisory Group

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

Several other research firms have also issued reports on HNST. 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. B. Riley Financial reissued a “buy” rating on shares of Honest in a research report on Thursday, November 6th. Zacks Research downgraded Honest from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Honest in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Honest in a report on Friday, January 16th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $3.00.

Honest Price Performance

Shares of HNST stock opened at $2.20 on Thursday. The stock’s 50-day moving average is $2.51 and its 200 day moving average is $3.16. Honest has a 1-year low of $2.07 and a 1-year high of $6.22. The company has a market cap of $245.94 million, a P/E ratio of 36.67 and a beta of 2.30.

Institutional Trading of Honest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its stake in shares of Honest by 1,392.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 7,073 shares of the company’s stock worth $26,000 after purchasing an additional 6,599 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Honest in the 4th quarter worth approximately $32,000. Hibernia Wealth Partners LLC purchased a new position in Honest during the 4th quarter worth approximately $32,000. Equity Wealth Partners LLC purchased a new position in Honest during the 3rd quarter worth approximately $37,000. Finally, CIBC Bancorp USA Inc. acquired a new position in Honest during the third quarter valued at $39,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.