Waldencast PLC (NASDAQ:WALD) Receives $4.61 Consensus Price Target from Brokerages

Waldencast PLC (NASDAQ:WALD) has been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $4.6143.

WALD has been the topic of a number of recent analyst reports. Telsey Advisory Group cut Waldencast from an “outperform” rating to a “market perform” rating and set a $3.00 target price on the stock. in a report on Tuesday, November 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Waldencast in a report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $3.50 target price on shares of Waldencast in a research note on Tuesday, November 25th. Finally, Canaccord Genuity Group cut their target price on shares of Waldencast from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 25th.

Waldencast Price Performance

NASDAQ:WALD opened at $2.15 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.67 and a current ratio of 1.53. Waldencast has a 12-month low of $1.48 and a 12-month high of $4.18. The stock’s fifty day simple moving average is $2.07 and its 200-day simple moving average is $2.10.

Institutional Inflows and Outflows

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