Waldencast (NASDAQ:WALD) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of Waldencast (NASDAQ:WALD) from a hold rating to a sell rating in a report released on Thursday morning.

A number of other brokerages have also commented on WALD. Telsey Advisory Group decreased their price objective on Waldencast from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. Canaccord Genuity Group reduced their price objective on shares of Waldencast from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, May 15th. DA Davidson reaffirmed a “buy” rating and issued a $7.50 price objective on shares of Waldencast in a research report on Wednesday, March 19th. Industrial Alliance Securities set a $5.00 price objective on shares of Waldencast in a research report on Tuesday, April 22nd. Finally, Alliance Global Partners reissued a “buy” rating on shares of Waldencast in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.11.

Waldencast Stock Up 8.8%

Shares of WALD opened at $2.36 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.47 and a quick ratio of 0.78. The stock has a 50 day moving average price of $2.71 and a two-hundred day moving average price of $3.15. Waldencast has a 52 week low of $1.98 and a 52 week high of $4.96.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of Waldencast during the 4th quarter worth approximately $42,000. Stonebrook Private Inc. purchased a new stake in shares of Waldencast during the 4th quarter worth approximately $48,000. Ethic Inc. purchased a new stake in shares of Waldencast during the 4th quarter worth approximately $56,000. Wells Fargo & Company MN increased its stake 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. Finally, XTX Topco Ltd purchased a new stake in shares of Waldencast during the 4th quarter worth approximately $70,000. Institutional investors own 41.97% of the company’s stock.

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.