Waldencast plc (NASDAQ:WALD) Receives $5.11 Consensus PT from Brokerages

Shares of Waldencast plc (NASDAQ:WALD) have earned a consensus 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 hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $5.11.

Several research firms have weighed in on WALD. DA Davidson reaffirmed a “buy” rating and issued a $7.50 price target on shares of Waldencast in a research note on Wednesday, March 19th. Telsey Advisory Group decreased their target price on Waldencast from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, May 15th. Alliance Global Partners reiterated a “buy” rating on shares of Waldencast in a report on Thursday. Canaccord Genuity Group decreased their price objective on Waldencast from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, May 15th. Finally, Industrial Alliance Securities set a $5.00 target price on Waldencast in a research report on Tuesday, April 22nd.

Institutional Trading of Waldencast

Institutional investors and hedge funds have recently modified their holdings of the stock. Amitell Capital Pte Ltd bought a new stake in Waldencast during the fourth quarter worth $780,000. Northern Trust Corp grew its stake in shares of Waldencast by 4.1% in the 4th quarter. Northern Trust Corp now owns 167,662 shares of the company’s stock worth $674,000 after acquiring an additional 6,640 shares in the last quarter. Simplicity Wealth LLC bought a new stake in shares of Waldencast in the 1st quarter worth $360,000. JPMorgan Chase & Co. raised its holdings in shares of Waldencast by 116.3% in the fourth quarter. JPMorgan Chase & Co. now owns 93,561 shares of the company’s stock valued at $376,000 after purchasing an additional 50,311 shares during the last quarter. Finally, Renaissance Technologies LLC lifted 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. 41.97% of the stock is owned by hedge funds and other institutional investors.

Waldencast Trading Up 0.5%

NASDAQ:WALD opened at $2.12 on Friday. Waldencast has a twelve month low of $1.98 and a twelve month high of $5.21. The company has a fifty day moving average of $2.77 and a 200-day moving average of $3.17. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21.

Waldencast Company Profile

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.