Waldencast (NASDAQ:WALD) Now Covered by Alliance Global Partners

Alliance Global Partners started coverage on shares of Waldencast (NASDAQ:WALD - Free Report) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $5.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. DA Davidson reiterated a "buy" rating and set a $7.50 target price on shares of Waldencast in a report on Wednesday, March 19th. Telsey Advisory Group set a $5.00 price objective on shares of Waldencast in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $5.40.

Waldencast Stock Down 4.6 %

NASDAQ WALD traded down $0.13 during trading hours on Tuesday, hitting $2.69. The company had a trading volume of 42,958 shares, compared to its average volume of 127,362. The firm's 50 day moving average is $2.94 and its 200 day moving average is $3.26. 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 fifty-two week low of $2.31 and a fifty-two week high of $5.46.

Institutional Investors Weigh In On Waldencast

Hedge funds have recently bought and sold shares of the business. Amitell Capital Pte Ltd acquired a new position in shares of Waldencast in the 4th quarter valued at approximately $780,000. Simplicity Wealth LLC bought a new stake in shares of Waldencast in the first quarter worth $360,000. JPMorgan Chase & Co. raised its holdings in Waldencast by 116.3% in the fourth quarter. JPMorgan Chase & Co. now owns 93,561 shares of the company's stock valued at $376,000 after acquiring an additional 50,311 shares in the last quarter. Barclays PLC boosted its stake in Waldencast by 301.4% during the 3rd quarter. Barclays PLC now owns 32,436 shares of the company's stock valued at $117,000 after acquiring an additional 24,355 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Waldencast during the 4th quarter worth $70,000. Institutional investors and hedge funds 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.