Waldencast PLC (NASDAQ:WALD) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Waldencast PLC (NASDAQ:WALD) has received a consensus recommendation of “Moderate Buy” from six ratings firms, with one hold and five buy ratings.
• The average 12-month price target for Waldencast shares among analysts is $4.9714, despite a recent downgrading by some analysts.
• Institutional investors currently hold 41.97% of Waldencast's stock, with significant increases in positions reported by multiple firms in the past quarters.

Waldencast PLC (NASDAQ:WALD - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.9714.

Several research firms have commented on WALD. Wall Street Zen lowered shares of Waldencast from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Telsey Advisory Group dropped their price objective on shares of Waldencast from $4.00 to $3.00 and set an "outperform" rating for the company in a research note on Wednesday, August 20th.

Waldencast Price Performance

NASDAQ WALD remained flat at $2.08 on Friday. 328,550 shares of the company's stock traded hands, compared to its average volume of 200,887. The company has a quick ratio of 0.66, a current ratio of 1.35 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $1.89 and a two-hundred day moving average price of $2.40. Waldencast has a 52 week low of $1.48 and a 52 week high of $4.29.

Institutional Trading of Waldencast

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Waldencast by 62.2% during the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company's stock valued at $1,437,000 after purchasing an additional 224,905 shares during the period. Northern Trust Corp boosted its stake in shares of Waldencast by 4.1% during the fourth quarter. Northern Trust Corp now owns 167,662 shares of the company's stock valued at $674,000 after purchasing an additional 6,640 shares during the period. Simplicity Wealth LLC purchased a new stake in shares of Waldencast during the first quarter valued at $360,000. Rhumbline Advisers boosted its stake in shares of Waldencast by 15.2% during 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 period. Finally, Nuveen LLC purchased a new stake in shares of Waldencast during the first quarter valued at $128,000. 41.97% of the stock is owned by hedge funds and other institutional investors.

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.