Brokerages Set Waldencast PLC (NASDAQ:WALD) Price Target at $5.11

Shares of Waldencast PLC (NASDAQ:WALD) have received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.11.

Several research firms have recently issued reports on WALD. DA Davidson restated a “buy” rating and set a $7.50 target price on shares of Waldencast in a research report on Wednesday, March 19th. Telsey Advisory Group decreased their target price on Waldencast from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, May 15th. Wall Street Zen lowered Waldencast from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Canaccord Genuity Group decreased their price objective on Waldencast from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, May 15th. Finally, Industrial Alliance Securities set a $5.00 price objective on Waldencast in a research report on Tuesday, April 22nd.

Hedge Funds Weigh In On Waldencast

Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Waldencast during the 4th quarter worth approximately $42,000. Charles Schwab Investment Management Inc. boosted its position in Waldencast by 16.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,895 shares of the company’s stock worth $261,000 after acquiring an additional 9,130 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Waldencast by 116.3% during the 4th quarter. JPMorgan Chase & Co. now owns 93,561 shares of the company’s stock worth $376,000 after acquiring an additional 50,311 shares during the last quarter. Wells Fargo & Company MN boosted its position in Waldencast by 29.9% during the 4th quarter. Wells Fargo & Company MN now owns 14,571 shares of the company’s stock worth $59,000 after acquiring an additional 3,358 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Waldencast by 10.3% during the 4th quarter. Renaissance Technologies LLC now owns 91,800 shares of the company’s stock worth $369,000 after acquiring an additional 8,600 shares during the last quarter. 41.97% of the stock is currently owned by institutional investors and hedge funds.

Waldencast Stock Down 1.8%

Waldencast stock opened at $2.15 on Wednesday. Waldencast has a 1 year low of $1.98 and a 1 year high of $4.74. The business has a 50-day moving average of $2.53 and a 200-day moving average of $3.02. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.35.

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.