Waldencast (NASDAQ:WALD) Now Covered by Analysts at Alliance Global Partners

Research analysts at Alliance Global Partners assumed coverage on shares of Waldencast (NASDAQ:WALD - Get Free Report) in a report released on Tuesday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $5.00 price target on the stock. Alliance Global Partners' price target would indicate a potential upside of 75.13% from the company's previous close.

WALD has been the subject of a number of other research reports. DA Davidson reiterated a "buy" rating and issued a $7.50 target price on shares of Waldencast in a research report on Wednesday, March 19th. Telsey Advisory Group set a $5.00 target price on Waldencast in a research report on Thursday, March 20th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $5.47.

Waldencast Stock Performance

Shares of NASDAQ:WALD opened at $2.86 on Tuesday. Waldencast has a 52 week low of $2.31 and a 52 week high of $5.82. The firm's 50 day moving average is $2.96 and its two-hundred day moving average is $3.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47.

Institutional Trading of Waldencast

A number of hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in shares of Waldencast by 29.9% during the fourth quarter. Wells Fargo & Company MN now owns 14,571 shares of the company's stock valued at $59,000 after acquiring an additional 3,358 shares during the period. Barclays PLC grew its holdings in shares of Waldencast by 15.1% during the fourth quarter. Barclays PLC now owns 37,342 shares of the company's stock valued at $150,000 after buying an additional 4,906 shares in the last quarter. Northern Trust Corp raised its position in Waldencast by 4.1% during the fourth quarter. Northern Trust Corp now owns 167,662 shares of the company's stock valued at $674,000 after buying an additional 6,640 shares during the period. Rhumbline Advisers lifted its stake in Waldencast by 15.2% in the 1st quarter. Rhumbline Advisers now owns 61,630 shares of the company's stock worth $185,000 after acquiring an additional 8,151 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in 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 acquiring an additional 8,600 shares during the period. 41.97% of the stock is owned by hedge funds and other 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.

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