Waldencast PLC (NASDAQ:WALD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Waldencast PLC (NASDAQ:WALD) has received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $4.4167.

Several research firms recently issued reports on WALD. Telsey Advisory Group cut Waldencast from an “outperform” rating to a “market perform” rating and set a $3.00 target price on the stock. in a research note on Tuesday, November 25th. Canaccord Genuity Group cut their price objective on Waldencast from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Waldencast in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group initiated coverage on Waldencast in a report on Wednesday, January 14th. They set a “buy” rating and a $2.00 target price for the company.

Waldencast Trading Up 6.9%

Shares of WALD opened at $1.70 on Thursday. Waldencast has a 1 year low of $1.45 and a 1 year high of $4.10. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $2.02 and a two-hundred day simple moving average of $1.96.

Waldencast (NASDAQ:WALD) last posted its quarterly earnings results on Monday, November 24th. The company reported ($0.69) earnings per share for the quarter. The business had revenue of $66.14 million for the quarter. On average, equities analysts anticipate that Waldencast will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WALD. Invesco Ltd. purchased a new position in Waldencast during the second quarter valued at $26,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Waldencast during the second quarter valued at $26,000. Covestor Ltd increased its holdings in shares of Waldencast by 98,716.0% during the third quarter. Covestor Ltd now owns 24,704 shares of the company’s stock valued at $49,000 after acquiring an additional 24,679 shares in the last quarter. McAdam LLC purchased a new position in shares of Waldencast in the 2nd quarter worth about $56,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Waldencast by 57.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock worth $57,000 after purchasing an additional 8,485 shares in the last quarter. 41.97% of the stock is currently owned by 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. 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.