Waldencast (NASDAQ:WALD) Trading 1.8% Higher - What's Next?

Key Points

• Waldencast shares rose 1.8% to $1.14 in mid-day trading, though volume was slightly below average. The stock remains below its 50-day and 200-day moving averages of $1.48 and $1.41.
• Analyst sentiment is mixed, with two Buy ratings, one Hold and one Sell. The consensus rating is Hold, with an average price target of $2.33; Canaccord recently raised its target to $3.00 and maintained a Buy rating.
• Institutional investors own approximately 41.97% of Waldencast, with several firms—including Bank of America, Bank of New York Mellon and Stoic Point Capital—recently increasing their positions.

Waldencast PLC (NASDAQ:WALD - Get Free Report) shares shot up 1.8% on Wednesday . The stock traded as high as $1.18 and last traded at $1.14. Approximately 287,403 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 299,789 shares. The stock had previously closed at $1.12.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Waldencast to a "hold" rating in a research note on Saturday, May 30th. Canaccord Genuity Group lifted their price target on Waldencast from $2.00 to $3.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings lowered Waldencast from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $2.33.

Waldencast Trading Up 1.8%

The company has a 50 day moving average of $1.48 and a 200-day moving average of $1.41. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.97 and a current ratio of 1.70.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Bank of America Corp DE grew its position in shares of Waldencast by 32.2% during the first quarter. Bank of America Corp DE now owns 42,676 shares of the company's stock worth $40,000 after acquiring an additional 10,396 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Waldencast by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 106,112 shares of the company's stock valued at $101,000 after purchasing an additional 10,728 shares during the last quarter. Citadel Advisors LLC bought a new stake in Waldencast in the 2nd quarter valued at about $39,000. Finally, Stoic Point Capital Management LLC lifted its position in Waldencast by 17.1% in the 1st quarter. Stoic Point Capital Management LLC now owns 1,637,010 shares of the company's stock valued at $1,555,000 after purchasing an additional 239,000 shares during the last quarter. 41.97% of the stock is currently owned by institutional investors.

About Waldencast

Waldencast plc is a global beauty and wellness company that develops, acquires and operates consumer brands across skincare, cosmetics and related personal-care categories. Its portfolio has included Obagi Skincare, a dermatologist-focused skincare brand, and Milk Makeup, a color cosmetics brand known for makeup and skincare products.

The company's products are designed for distribution through professional, specialty, mass-market and e-commerce channels. Waldencast serves consumers in multiple international markets through retail partners, digital commerce and professional skincare channels, although the availability of individual brands and products can vary by geography.

Waldencast was established as a beauty-focused platform and became a publicly traded company on Nasdaq in 2022 through a business combination with a special purpose acquisition company.

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