Wall Street Zen downgraded shares of Waldencast (NASDAQ:WALD - Free Report) from a hold rating to a sell rating in a research report sent to investors on Thursday.
Other equities analysts have also recently issued research reports about the stock. Industrial Alliance Securities set a $5.00 target price on shares of Waldencast in a research report on Tuesday, April 22nd. Telsey Advisory Group decreased their target price on shares of Waldencast from $5.00 to $4.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Alliance Global Partners reiterated a "buy" rating on shares of Waldencast in a research report on Thursday, May 15th. DA Davidson restated a "buy" rating and issued a $7.50 price objective on shares of Waldencast in a research report on Wednesday, March 19th. Finally, Canaccord Genuity Group decreased their price objective on shares of Waldencast from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Waldencast presently has an average rating of "Moderate Buy" and a consensus target price of $5.11.
Check Out Our Latest Stock Analysis on WALD
Waldencast Stock Up 9.3%
NASDAQ:WALD traded up $0.22 during trading hours on Thursday, reaching $2.59. The company's stock had a trading volume of 104,073 shares, compared to its average volume of 129,260. The firm has a 50-day simple moving average of $2.68 and a 200-day simple moving average of $3.13. Waldencast has a 1 year low of $1.98 and a 1 year high of $4.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.47 and a quick ratio of 0.78.
Hedge Funds Weigh In On Waldencast
A number of hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Waldencast during the 4th quarter valued at about $42,000. Stonebrook Private Inc. bought a new stake in shares of Waldencast during the 4th quarter valued at about $48,000. Ethic Inc. bought a new stake in shares of Waldencast during the 4th quarter valued at about $56,000. Wells Fargo & Company MN boosted 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 valued at $59,000 after purchasing an additional 3,358 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Waldencast during the 4th quarter valued at about $70,000. Hedge funds and other institutional investors own 41.97% of the company's stock.
About Waldencast
(
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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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