Waldencast PLC (NASDAQ:WALD) Given Average Rating of “Moderate Buy” by Analysts

Shares of Waldencast PLC (NASDAQ:WALD) have been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $5.11.

WALD has been the topic of a number of recent research reports. Canaccord Genuity Group decreased their target price on Waldencast from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, May 15th. DA Davidson reaffirmed a “buy” rating and issued a $7.50 target price on shares of Waldencast in a report on Wednesday, March 19th. Industrial Alliance Securities set a $5.00 price target on Waldencast in a report on Tuesday, April 22nd. Telsey Advisory Group decreased their price target on Waldencast from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, May 15th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Waldencast in a report on Thursday, May 15th.

Waldencast Price Performance

Shares of Waldencast stock opened at $2.57 on Friday. Waldencast has a one year low of $1.98 and a one year high of $4.74. The stock’s fifty day moving average is $2.49 and its 200 day moving average is $2.91. The company has a quick ratio of 0.66, a current ratio of 1.35 and a debt-to-equity ratio of 0.21.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN grew its position in shares of Waldencast by 29.9% during the fourth 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 in the last quarter. Barclays PLC grew its position in shares of Waldencast by 15.1% during the fourth quarter. Barclays PLC now owns 37,342 shares of the company’s stock valued at $150,000 after purchasing an additional 4,906 shares in the last quarter. Northern Trust Corp grew its position in shares of Waldencast by 4.1% during the fourth quarter. Northern Trust Corp now owns 167,662 shares of the company’s stock valued at $674,000 after purchasing an additional 6,640 shares in the last quarter. Rhumbline Advisers grew its position in shares of Waldencast by 15.2% during the first quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock valued at $185,000 after purchasing an additional 8,151 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Waldencast by 10.3% during the fourth quarter. Renaissance Technologies LLC now owns 91,800 shares of the company’s stock valued at $369,000 after purchasing an additional 8,600 shares in the last quarter. Hedge funds and other institutional investors own 41.97% of the company’s stock.

About Waldencast

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.