Waldencast (NASDAQ:WALD) Trading 1.8% Higher – What’s Next?

Waldencast PLC (NASDAQ:WALD) shares were up 1.8% on Wednesday . The company traded as high as $1.18 and last traded at $1.14. Approximately 287,403 shares were traded during trading, a decline of 4% from the average daily volume of 299,789 shares. The stock had previously closed at $1.12.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Waldencast to a “hold” rating in a research report on Saturday, May 30th. Weiss Ratings downgraded Waldencast from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 1st. Finally, Canaccord Genuity Group boosted their price target on Waldencast from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Two 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.33.

Waldencast Stock Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.97 and a current ratio of 1.70. The company’s 50 day simple moving average is $1.48 and its 200 day simple moving average is $1.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Stoic Point Capital Management LLC raised its holdings in Waldencast by 17.1% during the first quarter. Stoic Point Capital Management LLC now owns 1,637,010 shares of the company’s stock worth $1,555,000 after purchasing an additional 239,000 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Waldencast by 11.2% during the 1st quarter. Bank of New York Mellon Corp now owns 106,112 shares of the company’s stock valued at $101,000 after purchasing an additional 10,728 shares in the last quarter. Bank of America Corp DE boosted its stake in Waldencast by 32.2% during the 1st quarter. Bank of America Corp DE now owns 42,676 shares of the company’s stock valued at $40,000 after purchasing an additional 10,396 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in Waldencast during the 2nd quarter valued at $39,000. 41.97% of the stock is currently owned by institutional investors.

About Waldencast

Waldencast plc is a global beauty and wellness company that develops, acquires and operates consumer brands across skincare, cosmetics and related personal-care categories. Its portfolio has included Obagi Skincare, a dermatologist-focused skincare brand, and Milk Makeup, a color cosmetics brand known for makeup and skincare products.

The company’s products are designed for distribution through professional, specialty, mass-market and e-commerce channels. Waldencast serves consumers in multiple international markets through retail partners, digital commerce and professional skincare channels, although the availability of individual brands and products can vary by geography.

Waldencast was established as a beauty-focused platform and became a publicly traded company on Nasdaq in 2022 through a business combination with a special purpose acquisition company.