Waldencast (NASDAQ:WALD) Trading 5% Higher – Still a Buy?

Waldencast PLC (NASDAQ:WALD)’s stock price was up 5% on Wednesday . The company traded as high as $2.03 and last traded at $1.9950. Approximately 65,959 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 109,115 shares. The stock had previously closed at $1.90.

Analysts Set New Price Targets

A number of research analysts have issued reports on WALD shares. Canaccord Genuity Group cut their price objective on Waldencast from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Waldencast in a research report on Wednesday, October 8th. Jefferies Financial Group reissued a “buy” rating and set a $3.50 price target on shares of Waldencast in a report on Tuesday, November 25th. Finally, Telsey Advisory Group lowered shares of Waldencast from an “outperform” rating to a “market perform” rating and set a $3.00 price objective for the company. in a report on Tuesday, November 25th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.67.

Waldencast Stock Up 5.0%

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.53 and a quick ratio of 0.67. The firm’s 50-day simple moving average is $2.07 and its two-hundred day simple moving average is $2.06.

Waldencast (NASDAQ:WALD) last announced its earnings results on Monday, November 24th. The company reported ($0.69) earnings per share (EPS) for the quarter. The firm had revenue of $66.14 million for the quarter. As a group, equities research analysts forecast that Waldencast PLC will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Waldencast

Several hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in Waldencast during the 3rd quarter worth about $78,000. UBS Group AG grew its position in shares of Waldencast by 466.2% during the 3rd quarter. UBS Group AG now owns 838,536 shares of the company’s stock worth $1,660,000 after buying an additional 690,441 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Waldencast by 12.7% during the third quarter. JPMorgan Chase & Co. now owns 57,702 shares of the company’s stock worth $114,000 after buying an additional 6,516 shares during the last quarter. Milestones Administradora de Recursos Ltda. lifted its holdings in Waldencast by 10.3% in the third quarter. Milestones Administradora de Recursos Ltda. now owns 2,425,677 shares of the company’s stock valued at $4,803,000 after buying an additional 225,677 shares during the period. Finally, Covestor Ltd boosted its stake in Waldencast by 98,716.0% in the third quarter. Covestor Ltd now owns 24,704 shares of the company’s stock valued at $49,000 after acquiring an additional 24,679 shares during the last quarter. Institutional investors own 41.97% of the company’s stock.

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. The company also offers clean makeup products under the Milk Makeup brand. It sells its products to dermatologists, plastic surgeons, and other physicians who focuses on aesthetic and therapeutic skincare, including physicians on site at medical spas, through its direct sales force, as well as through distribution partners.