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

Waldencast (NASDAQ:WALD - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Thursday.

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

Waldencast Stock Down 0.6%

Shares of WALD stock traded down $0.01 during trading on Thursday, reaching $2.16. 7,109 shares of the company's stock were exchanged, compared to its average volume of 129,357. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21. Waldencast has a twelve month low of $1.98 and a twelve month high of $4.96. The firm's fifty day moving average price is $2.73 and its 200-day moving average price is $3.16.

Institutional Trading of Waldencast

A number of institutional investors have recently modified their holdings of WALD. Amitell Capital Pte Ltd bought a new stake in shares of Waldencast during the 4th quarter valued at $780,000. Simplicity Wealth LLC bought a new stake in shares of Waldencast during the 1st quarter worth $360,000. JPMorgan Chase & Co. lifted its position in shares of Waldencast by 116.3% during the 4th quarter. JPMorgan Chase & Co. now owns 93,561 shares of the company's stock worth $376,000 after buying an additional 50,311 shares during the last quarter. Nuveen LLC bought a new stake in shares of Waldencast during the 1st quarter worth $128,000. Finally, Jane Street Group LLC bought a new stake in shares of Waldencast during the 1st quarter worth $77,000. 41.97% of the stock is currently owned by institutional investors.

About Waldencast

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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