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

Waldencast PLC (NASDAQ:WALD) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $4.4167.

Several brokerages recently weighed in on WALD. Canaccord Genuity Group decreased their price objective on Waldencast from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Waldencast in a research note on Wednesday, October 8th. Telsey Advisory Group lowered shares of Waldencast from an “outperform” rating to a “market perform” rating and set a $3.00 price target on the stock. in a research report on Tuesday, November 25th. Finally, 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 objective for the company.

Waldencast Trading Up 6.9%

Shares of WALD stock opened at $1.70 on Thursday. The firm has a 50-day moving average of $2.02 and a 200-day moving average of $1.96. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.32. Waldencast has a one year low of $1.45 and a one year high of $4.10.

Waldencast (NASDAQ:WALD) last released its earnings results on Monday, November 24th. The company reported ($0.69) earnings per share (EPS) for the quarter. The firm had revenue of $66.14 million during the quarter. On average, equities research analysts anticipate that Waldencast will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Waldencast

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in shares of Waldencast during the 1st quarter valued at $77,000. 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. McAdam LLC purchased a new stake in Waldencast during the second quarter valued at about $56,000. Geode Capital Management LLC lifted its stake in Waldencast by 62.2% during the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock worth $1,437,000 after purchasing an additional 224,905 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in Waldencast during the second quarter worth about $26,000. 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. 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.