Waldencast plc (NASDAQ:WALD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Waldencast plc (NASDAQ:WALD) have earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.11.

Several research firms recently weighed in on WALD. Alliance Global Partners assumed coverage on shares of Waldencast in a research report on Tuesday, April 22nd. They set a “buy” rating and a $5.00 price objective for the company. Telsey Advisory Group lowered their target price on Waldencast from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday. DA Davidson reissued a “buy” rating and set a $7.50 target price on shares of Waldencast in a research note on Wednesday, March 19th. Canaccord Genuity Group lowered their target price on Waldencast from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Industrial Alliance Securities set a $5.00 target price on Waldencast in a research note on Tuesday, April 22nd.

Waldencast Stock Performance

Shares of Waldencast stock opened at $2.11 on Friday. The firm has a 50-day moving average of $2.79 and a 200-day moving average of $3.18. Waldencast has a 52-week low of $2.02 and a 52-week high of $5.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.47 and a quick ratio of 0.78.

Hedge Funds Weigh In On Waldencast

Institutional investors and hedge funds have recently modified their holdings of the stock. Amitell Capital Pte Ltd purchased a new position in Waldencast in the fourth quarter worth about $780,000. Simplicity Wealth LLC bought a new stake in Waldencast during the 1st quarter valued at approximately $360,000. JPMorgan Chase & Co. raised its stake in Waldencast by 116.3% during the 4th quarter. JPMorgan Chase & Co. now owns 93,561 shares of the company’s stock valued at $376,000 after purchasing an additional 50,311 shares during the period. Nuveen LLC bought a new stake in Waldencast during the 1st quarter valued at approximately $128,000. Finally, Barclays PLC raised its stake in Waldencast by 301.4% during the 3rd quarter. Barclays PLC now owns 32,436 shares of the company’s stock valued at $117,000 after purchasing an additional 24,355 shares during the period. 41.97% of the stock is currently owned by institutional investors.

Waldencast Company Profile

Waldencast plc operates in the beauty and wellness business. The company engages in developing, acquiring, accelerating, and scaling various brands. It provides cosmetic, over-the-counter, and prescription products under the Obagi Medical, Obagi Clinical, and Obagi Professional brands; and a Skintrinsiq device for use in facial treatments that is used by physicians' offices, spas, and aestheticians.