Waldencast (NASDAQ:WALD) Receives Buy Rating from DA Davidson

DA Davidson reissued their buy rating on shares of Waldencast (NASDAQ:WALD) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $7.50 price target on the stock.

A number of other equities analysts also recently weighed in on the company. Canaccord Genuity Group upped their target price on Waldencast from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, November 22nd. TD Cowen initiated coverage on shares of Waldencast in a research note on Monday, December 16th. They issued a “hold” rating and a $4.30 price objective on the stock. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $6.00 target price on shares of Waldencast in a research report on Wednesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.76.

Waldencast Trading Down 3.3 %

Shares of WALD stock opened at $3.20 on Wednesday. Waldencast has a 1-year low of $2.41 and a 1-year high of $7.54. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $3.24 and its 200-day simple moving average is $3.47.

Institutional Trading of Waldencast

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of 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 in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Waldencast in the fourth quarter valued at about $42,000. JPMorgan Chase & Co. increased its stake in shares of Waldencast by 52.0% in the third quarter. JPMorgan Chase & Co. now owns 43,250 shares of the company’s stock worth $157,000 after purchasing an additional 14,803 shares during the period. Catalina Capital Group LLC lifted its position in shares of Waldencast by 69.9% during the 4th quarter. Catalina Capital Group LLC now owns 27,102 shares of the company’s stock worth $109,000 after purchasing an additional 11,154 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Waldencast by 29.9% during the 4th quarter. Wells Fargo & Company MN now owns 14,571 shares of the company’s stock valued at $59,000 after purchasing an additional 3,358 shares during the period. 41.97% of the stock is currently owned by institutional investors and hedge funds.

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.