Waldencast PLC (NASDAQ:WALD) Receives $4.42 Consensus Price Target from Brokerages

Waldencast PLC (NASDAQ:WALD) has received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $4.4167.

Several research firms recently issued reports on WALD. Canaccord Genuity Group dropped their price objective on Waldencast from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Telsey Advisory Group cut shares of Waldencast from an “outperform” rating to a “market perform” rating and set a $3.00 target price on the stock. in a research report on Tuesday, November 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Waldencast in a research report on Wednesday. Finally, Jefferies Financial Group assumed coverage on shares of Waldencast in a research note on Wednesday, January 14th. They set a “buy” rating and a $2.00 price objective for the company.

Waldencast Trading Up 0.6%

Shares of NASDAQ:WALD opened at $1.74 on Thursday. Waldencast has a 52-week low of $1.45 and a 52-week high of $4.10. The business’s 50 day simple moving average is $2.01 and its two-hundred day simple moving average is $1.95. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.32.

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

Hedge Funds Weigh In On Waldencast

Several institutional investors and hedge funds have recently modified their holdings of WALD. McAdam LLC bought a new position in Waldencast in the 2nd quarter worth approximately $56,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Waldencast during the 2nd quarter valued at about $26,000. Jane Street Group LLC bought a new stake in shares of Waldencast in the 1st quarter valued at approximately $77,000. Geode Capital Management LLC boosted its stake in Waldencast by 62.2% during the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock worth $1,437,000 after buying an additional 224,905 shares during the period. Finally, Invesco Ltd. purchased a new position in shares of Waldencast during the 2nd quarter worth about $26,000. 41.97% of the stock is currently owned by 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.