Waldencast (NASDAQ:WALD) Now Covered by Analysts at Alliance Global Partners

Alliance Global Partners started coverage on shares of Waldencast (NASDAQ:WALD) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $5.00 price target on the stock.

Several other research firms have also weighed in on WALD. Telsey Advisory Group set a $5.00 target price on Waldencast in a report on Thursday, March 20th. DA Davidson restated a “buy” rating and issued a $7.50 price objective on shares of Waldencast in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Waldencast presently has a consensus rating of “Moderate Buy” and an average price target of $5.47.

Waldencast Price Performance

Shares of WALD stock opened at $2.93 on Tuesday. Waldencast has a fifty-two week low of $2.31 and a fifty-two week high of $5.47. The stock’s 50-day moving average is $2.95 and its two-hundred day moving average is $3.28. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC increased its stake in Waldencast by 301.4% during the 3rd quarter. Barclays PLC now owns 32,436 shares of the company’s stock worth $117,000 after purchasing an additional 24,355 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Waldencast by 52.0% during the third quarter. JPMorgan Chase & Co. now owns 43,250 shares of the company’s stock worth $157,000 after acquiring an additional 14,803 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Waldencast during the fourth quarter worth $42,000. Catalina Capital Group LLC raised its holdings in shares of Waldencast by 69.9% during the fourth quarter. Catalina Capital Group LLC now owns 27,102 shares of the company’s stock worth $109,000 after acquiring an additional 11,154 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Waldencast by 16.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,895 shares of the company’s stock valued at $261,000 after acquiring an additional 9,130 shares in the last quarter. 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.