Waldencast's (WALD) "Buy" Rating Reaffirmed at DA Davidson

Waldencast (NASDAQ:WALD - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They presently have a $7.50 price objective on the stock. DA Davidson's price target points to a potential upside of 141.16% from the stock's previous close.

Several other research analysts also recently commented on WALD. TD Cowen assumed coverage on shares of Waldencast in a research note on Monday, December 16th. They issued a "hold" rating and a $4.30 target price on the stock. Telsey Advisory Group reissued an "outperform" rating and set a $6.00 price objective on shares of Waldencast in a research report on Wednesday. Finally, Canaccord Genuity Group boosted their price objective on shares of Waldencast from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Waldencast currently has an average rating of "Moderate Buy" and an average target price of $5.76.

Waldencast Stock Down 0.6 %

Shares of NASDAQ WALD traded down $0.02 during mid-day trading on Wednesday, hitting $3.11. The stock had a trading volume of 105,497 shares, compared to its average volume of 128,289. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21. Waldencast has a 1 year low of $2.41 and a 1 year high of $7.54. The business has a 50 day moving average price of $3.24 and a two-hundred day moving average price of $3.47.

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Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Amitell Capital Pte Ltd bought a new position in shares of Waldencast in the 4th quarter worth about $780,000. Northern Trust Corp increased its stake in shares of Waldencast by 4.1% in the 4th quarter. Northern Trust Corp now owns 167,662 shares of the company's stock worth $674,000 after acquiring an additional 6,640 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Waldencast by 116.3% in the 4th quarter. JPMorgan Chase & Co. now owns 93,561 shares of the company's stock worth $376,000 after acquiring an additional 50,311 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Waldencast by 10.3% in the 4th quarter. Renaissance Technologies LLC now owns 91,800 shares of the company's stock worth $369,000 after acquiring an additional 8,600 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Waldencast by 16.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,895 shares of the company's stock worth $261,000 after acquiring an additional 9,130 shares in the last quarter. 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.