Waldencast (NASDAQ:WALD) Given New $7.50 Price Target at DA Davidson

Waldencast (NASDAQ:WALD) had its price objective hoisted by DA Davidson from $7.25 to $7.50 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on WALD. Telsey Advisory Group restated an “outperform” rating and set a $6.00 price target on shares of Waldencast in a research note on Monday, November 18th. Canaccord Genuity Group began coverage on Waldencast in a research note on Friday, October 25th. They set a “buy” rating and a $5.00 price target for the company. Finally, Canaccord Genuity Group upped their price target on Waldencast from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd.

Waldencast Price Performance

WALD stock opened at $3.25 on Wednesday. Waldencast has a twelve month low of $2.40 and a twelve month high of $12.00. The business has a 50 day simple moving average of $3.46 and a 200-day simple moving average of $3.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.47 and a quick ratio of 0.78.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WALD. Renaissance Technologies LLC acquired a new stake in shares of Waldencast during the second quarter valued at $239,000. Marshall Wace LLP acquired a new stake in shares of Waldencast during the second quarter valued at $37,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Waldencast during the second quarter valued at $85,000. Simplicity Wealth LLC boosted its stake in shares of Waldencast by 416.2% during the third quarter. Simplicity Wealth LLC now owns 77,080 shares of the company’s stock valued at $281,000 after acquiring an additional 62,148 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in shares of Waldencast by 75.2% during the third quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company’s stock valued at $96,000 after acquiring an additional 11,288 shares during the last quarter. Hedge funds and other 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.