Jefferies Financial Group Begins Coverage on Waldencast (NASDAQ:WALD)

Investment analysts at Jefferies Financial Group initiated coverage on shares of Waldencast (NASDAQ:WALD) in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $2.00 price target on the stock. Jefferies Financial Group’s price target indicates a potential upside of 21.21% from the stock’s current price.

WALD has been the subject of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Waldencast in a research report on Wednesday, October 8th. Canaccord Genuity Group lowered their price objective on Waldencast from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Finally, Telsey Advisory Group cut Waldencast from an “outperform” rating to a “market perform” rating and set a $3.00 target price for the company. in a report on Tuesday, November 25th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.42.

Waldencast Price Performance

Shares of WALD stock opened at $1.65 on Wednesday. Waldencast has a 1-year low of $1.45 and a 1-year high of $4.10. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $2.03 and a 200-day simple moving average of $1.99.

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

Institutional Investors Weigh In On Waldencast

Large investors have recently made changes to their positions in the stock. Invesco Ltd. acquired a new stake in shares of Waldencast in the second quarter valued at approximately $26,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Waldencast in the 2nd quarter valued at $26,000. Covestor Ltd increased its stake in shares of Waldencast by 98,716.0% in the 3rd quarter. Covestor Ltd now owns 24,704 shares of the company’s stock worth $49,000 after acquiring an additional 24,679 shares during the last quarter. McAdam LLC acquired a new stake in shares of Waldencast in the 2nd quarter worth $56,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 worth $57,000 after acquiring an additional 8,485 shares during the period. 41.97% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.