Waldencast PLC (NASDAQ:WALD) Receives $5.11 Average Target Price from Analysts

Waldencast PLC (NASDAQ:WALD) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $5.11.

Several analysts recently commented on WALD shares. Canaccord Genuity Group lowered their target price on Waldencast from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, May 15th. Telsey Advisory Group lowered their target price on Waldencast from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, May 15th. Wall Street Zen cut Waldencast from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Industrial Alliance Securities set a $5.00 target price on Waldencast in a research report on Tuesday, April 22nd. Finally, Alliance Global Partners restated a “buy” rating on shares of Waldencast in a research report on Thursday, May 15th.

Waldencast Trading Down 4.5%

Shares of WALD opened at $1.70 on Thursday. Waldencast has a 1 year low of $1.68 and a 1 year high of $4.74. The company has a current ratio of 1.35, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The stock has a 50-day simple moving average of $2.40 and a 200-day simple moving average of $2.77.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WALD. Stonebrook Private Inc. acquired a new position in Waldencast in the fourth quarter worth approximately $48,000. Ethic Inc. acquired a new position in Waldencast in the fourth quarter worth approximately $56,000. McAdam LLC acquired a new position in Waldencast in the second quarter worth approximately $56,000. Wells Fargo & Company MN grew its position in Waldencast by 29.9% in the fourth quarter. Wells Fargo & Company MN now owns 14,571 shares of the company’s stock worth $59,000 after buying an additional 3,358 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Waldencast in the fourth quarter worth approximately $70,000. Institutional investors and hedge funds 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.