Stock analysts at Canaccord Genuity Group initiated coverage on shares of Waldencast (NASDAQ:WALD - Get Free Report) in a research note issued on Friday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $5.00 price target on the stock. Canaccord Genuity Group's price target suggests a potential upside of 43.27% from the company's previous close.
WALD has been the subject of several other reports. Canaccord Genuity Group initiated coverage on Waldencast in a research note on Friday. They issued a "buy" rating and a $5.00 price objective for the company. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $6.00 price objective on shares of Waldencast in a research note on Wednesday, October 9th. Finally, DA Davidson raised their price target on Waldencast from $6.50 to $7.25 and gave the stock a "buy" rating in a research report on Wednesday, September 4th.
Check Out Our Latest Stock Analysis on Waldencast
Waldencast Price Performance
NASDAQ WALD traded up $0.11 during mid-day trading on Friday, hitting $3.49. The stock had a trading volume of 66,777 shares, compared to its average volume of 136,278. Waldencast has a 52-week low of $2.40 and a 52-week high of $12.00. The company has a 50 day simple moving average of $3.52 and a 200 day simple moving average of $3.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47.
Hedge Funds Weigh In On Waldencast
Hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new stake in shares of Waldencast during the second quarter worth $37,000. Bleakley Financial Group LLC increased its position in shares of Waldencast by 75.2% during the third quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company's stock worth $96,000 after acquiring an additional 11,288 shares during the last quarter. Catalina Capital Group LLC purchased a new stake in shares of Waldencast during the first quarter worth about $73,000. Norden Group LLC purchased a new stake in shares of Waldencast during the first quarter worth about $92,000. Finally, McAdam LLC purchased a new stake in shares of Waldencast during the third quarter worth about $62,000. Hedge funds and other institutional investors own 41.97% of the company's stock.
About Waldencast
(
Get Free Report)
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.
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