Waldencast PLC (NASDAQ:WALD) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Waldencast PLC (NASDAQ:WALD - Get Free Report) have received an average rating of "Moderate Buy" from the six analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $5.11.

Several brokerages recently issued reports on WALD. Wall Street Zen lowered shares of Waldencast from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Industrial Alliance Securities set a $5.00 price objective on Waldencast in a research report on Tuesday, April 22nd. 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 cut their target price on Waldencast from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Waldencast in a research report on Thursday, May 15th.

Hedge Funds Weigh In On Waldencast

Several institutional investors and hedge funds have recently bought and sold shares of WALD. Rhumbline Advisers lifted its position in Waldencast by 15.2% in the first quarter. Rhumbline Advisers now owns 61,630 shares of the company's stock valued at $185,000 after purchasing an additional 8,151 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Waldencast in the first quarter worth $77,000. Nuveen LLC bought a new stake in Waldencast during the 1st quarter valued at $128,000. Simplicity Wealth LLC purchased a new stake in Waldencast during the 1st quarter valued at $360,000. Finally, Stonebrook Private Inc. bought a new stake in Waldencast in the 4th quarter worth $48,000. 41.97% of the stock is currently owned by institutional investors.

Waldencast Trading Up 3.5%

WALD stock opened at $2.82 on Friday. The firm has a 50 day simple moving average of $2.50 and a two-hundred day simple moving average of $2.93. Waldencast has a one year low of $1.98 and a one year high of $4.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.35 and a quick ratio of 0.66.

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.

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