Waldencast PLC (NASDAQ:WALD) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Waldencast PLC (NASDAQ:WALD) have been given a consensus rating of “Hold” by the five research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $2.00.

Several research analysts have recently weighed in on the stock. Telsey Advisory Group decreased their price target on shares of Waldencast from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Monday, March 16th. Canaccord Genuity Group decreased their price target on shares of Waldencast from $4.00 to $2.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Jefferies Financial Group assumed coverage on shares of Waldencast in a report on Wednesday, January 14th. They issued a “buy” rating and a $2.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Waldencast in a report on Monday, April 20th.

Waldencast Trading Up 8.0%

Waldencast stock opened at $0.96 on Friday. Waldencast has a fifty-two week low of $0.72 and a fifty-two week high of $3.22. The firm’s fifty day moving average price is $1.23 and its 200-day moving average price is $1.68. The company has a quick ratio of 0.97, a current ratio of 1.70 and a debt-to-equity ratio of 0.29.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Waldencast by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 57,702 shares of the company’s stock valued at $114,000 after acquiring an additional 6,516 shares during the last quarter. Barclays PLC increased its stake in Waldencast by 11.0% in the fourth quarter. Barclays PLC now owns 66,337 shares of the company’s stock valued at $125,000 after acquiring an additional 6,587 shares during the last quarter. Rhumbline Advisers increased its stake in Waldencast by 15.2% in the first quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock valued at $185,000 after acquiring an additional 8,151 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Waldencast by 57.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock valued at $57,000 after acquiring an additional 8,485 shares during the last quarter. Finally, Invesco Ltd. bought a new position in Waldencast in the second quarter valued at $26,000. 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.