Wall Street Zen Upgrades Waldencast (NASDAQ:WALD) to Hold

Waldencast (NASDAQ:WALD) was upgraded by equities research analysts at Wall Street Zen to a “hold” rating in a research report issued on Saturday.

Several other equities analysts have also issued reports on WALD. Telsey Advisory Group lowered their price target on Waldencast from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Monday, March 16th. Canaccord Genuity Group lowered their price target on Waldencast from $4.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Finally, Weiss Ratings lowered Waldencast from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Waldencast currently has an average rating of “Hold” and an average price target of $2.00.

Waldencast Trading Down 9.6%

WALD opened at $1.23 on Friday. The stock has a 50-day moving average price of $1.15 and a 200-day moving average price of $1.62. The company has a quick ratio of 0.97, a current ratio of 1.70 and a debt-to-equity ratio of 0.29. Waldencast has a 1 year low of $0.72 and a 1 year high of $3.22.

Hedge Funds Weigh In On Waldencast

A number of hedge funds have recently bought and sold shares of WALD. JPMorgan Chase & Co. grew its stake in shares of Waldencast by 12.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,702 shares of the company’s stock valued at $114,000 after purchasing an additional 6,516 shares during the period. Barclays PLC grew its stake in shares of Waldencast by 11.0% during the 4th quarter. Barclays PLC now owns 66,337 shares of the company’s stock valued at $125,000 after purchasing an additional 6,587 shares during the period. Rhumbline Advisers grew its stake in shares of Waldencast by 15.2% during the 1st quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock valued at $185,000 after purchasing an additional 8,151 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Waldencast by 57.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock valued at $57,000 after purchasing an additional 8,485 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of 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 during the period. 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.