Analysts Set Waldencast PLC (NASDAQ:WALD) PT at $2.00

Waldencast PLC (NASDAQ:WALD) has been given a consensus recommendation of “Hold” by the five brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $2.00.

A number of research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Waldencast from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Canaccord Genuity Group cut their price objective on shares of Waldencast from $4.00 to $2.00 and set a “buy” rating for the company in a report on Monday, March 16th. Jefferies Financial Group initiated coverage on shares of Waldencast in a report on Wednesday, January 14th. They issued a “buy” rating and a $2.00 price objective for the company. Finally, Telsey Advisory Group cut their price objective on shares of Waldencast from $3.00 to $2.00 and set a “market perform” rating for the company in a report on Monday, March 16th.

Hedge Funds Weigh In On Waldencast

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Waldencast by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 57,702 shares of the company’s stock valued at $114,000 after acquiring an additional 6,516 shares in the last quarter. Barclays PLC grew its stake in Waldencast by 11.0% during the 4th quarter. Barclays PLC now owns 66,337 shares of the company’s stock valued at $125,000 after acquiring an additional 6,587 shares in the last quarter. Rhumbline Advisers grew its stake in Waldencast by 15.2% during the 1st quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock valued at $185,000 after acquiring an additional 8,151 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Waldencast by 57.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock valued at $57,000 after acquiring an additional 8,485 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in Waldencast during the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors own 41.97% of the company’s stock.

Waldencast Price Performance

Shares of WALD opened at $1.80 on Friday. Waldencast has a twelve month low of $0.72 and a twelve month high of $3.22. The company has a 50 day moving average of $1.19 and a two-hundred day moving average of $1.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.97 and a current ratio of 1.70.

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. The company also offers clean makeup products under the Milk Makeup brand. It sells its products to dermatologists, plastic surgeons, and other physicians who focuses on aesthetic and therapeutic skincare, including physicians on site at medical spas, through its direct sales force, as well as through distribution partners.