Waldencast (NASDAQ:WALD) Price Target Lowered to $2.00 at Canaccord Genuity Group

Waldencast (NASDAQ:WALD) had its price objective decreased by Canaccord Genuity Group from $4.00 to $2.00 in a report published on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the company. Telsey Advisory Group downgraded 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. Jefferies Financial Group assumed coverage on Waldencast in a report on Wednesday, January 14th. They set a “buy” rating and a $2.00 price target for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Waldencast in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Waldencast currently has an average rating of “Moderate Buy” and an average price target of $3.92.

Waldencast Stock Performance

WALD stock opened at $1.57 on Monday. Waldencast has a one year low of $1.41 and a one year high of $3.51. The firm’s 50 day moving average price is $1.68 and its 200-day moving average price is $1.87. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.32.

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

Hedge Funds Weigh In On Waldencast

Several institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of Waldencast by 12.7% during the third quarter. JPMorgan Chase & Co. now owns 57,702 shares of the company’s stock worth $114,000 after acquiring an additional 6,516 shares during the period. Wells Fargo & Company MN boosted its holdings in Waldencast by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 47,484 shares of the company’s stock valued at $89,000 after purchasing an additional 15,014 shares during the period. Deutsche Bank AG grew its stake in Waldencast by 264.2% during the 4th quarter. Deutsche Bank AG now owns 43,205 shares of the company’s stock worth $81,000 after purchasing an additional 31,341 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Waldencast in the 3rd quarter valued at about $78,000. Finally, Jane Street Group LLC purchased a new position in shares of Waldencast in the 1st quarter valued at about $77,000. Institutional investors and hedge funds own 41.97% of the company’s stock.

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.