Telsey Advisory Group reissued their outperform rating on shares of Waldencast (NASDAQ:WALD - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $6.00 target price on the stock.
A number of other analysts also recently issued reports on WALD. TD Cowen initiated coverage on Waldencast in a research note on Monday, December 16th. They issued a "hold" rating and a $4.30 target price for the company. DA Davidson raised their target price on Waldencast from $7.25 to $7.50 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group raised their target price on Waldencast from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy 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 $5.76.
Read Our Latest Research Report on WALD
Waldencast Price Performance
NASDAQ WALD traded down $0.02 during trading hours on Wednesday, reaching $3.11. The stock had a trading volume of 105,497 shares, compared to its average volume of 128,289. The stock has a fifty day moving average of $3.24 and a 200 day moving average of $3.47. Waldencast has a 52-week low of $2.41 and a 52-week high of $7.54. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.47 and a quick ratio of 0.78.
Institutional Trading of Waldencast
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN increased its position 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 purchasing an additional 3,358 shares during the last quarter. Barclays PLC increased its position in shares of Waldencast by 15.1% during the 4th quarter. Barclays PLC now owns 37,342 shares of the company's stock worth $150,000 after purchasing an additional 4,906 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Waldencast by 293.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,854 shares of the company's stock worth $25,000 after purchasing an additional 5,114 shares during the last quarter. Northern Trust Corp increased its position in shares of Waldencast by 4.1% during the 4th quarter. Northern Trust Corp now owns 167,662 shares of the company's stock worth $674,000 after purchasing an additional 6,640 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Waldencast by 10.3% during the 4th quarter. Renaissance Technologies LLC now owns 91,800 shares of the company's stock worth $369,000 after purchasing an additional 8,600 shares during the last quarter. 41.97% of the stock is owned by institutional investors and hedge funds.
About Waldencast
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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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