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

Shares of Waldencast plc (NASDAQ:WALD) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $5.11.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WALD. SG Americas Securities LLC acquired a new stake in Waldencast during the 4th quarter valued at $42,000. Stonebrook Private Inc. bought a new position in shares of Waldencast in the fourth quarter valued at about $48,000. Ethic Inc. acquired a new stake in shares of Waldencast during the 4th quarter worth about $56,000. Wells Fargo & Company MN boosted its holdings in shares of Waldencast by 29.9% during the 4th 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 period. Finally, XTX Topco Ltd acquired a new position in Waldencast in the 4th quarter valued at about $70,000. 41.97% of the stock is currently owned by institutional investors.

Waldencast Price Performance

Shares of WALD stock opened at $2.17 on Friday. The firm’s fifty day moving average price is $2.73 and its two-hundred day moving average price is $3.16. 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 has a 1 year low of $1.98 and a 1 year high of $4.96.

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.