Waldencast plc (NASDAQ:WALD) Receives $5.11 Consensus Price Target from Analysts

Waldencast plc (NASDAQ:WALD - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat reports. One equities research 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 brokers that have covered the stock in the last year is $5.11.

WALD has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their price objective on shares of Waldencast from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Industrial Alliance Securities set a $5.00 price target on shares of Waldencast in a research report on Tuesday, April 22nd. Telsey Advisory Group decreased their price objective on shares of Waldencast from $5.00 to $4.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. DA Davidson reissued a "buy" rating and set a $7.50 target price on shares of Waldencast in a research note on Wednesday, March 19th. Finally, Wall Street Zen lowered Waldencast from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Waldencast Stock Performance

Shares of NASDAQ:WALD traded up $0.06 during trading hours on Wednesday, hitting $2.36. 129,542 shares of the company's stock traded hands, compared to its average volume of 131,026. The company's fifty day simple moving average is $2.56 and its two-hundred day simple moving average is $3.06. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47. Waldencast has a 52 week low of $1.98 and a 52 week high of $4.74.

Institutional Investors Weigh In On Waldencast

A number of hedge funds and other institutional investors have recently bought and sold shares of WALD. Amitell Capital Pte Ltd bought a new stake in shares of Waldencast during the fourth quarter valued at approximately $780,000. Northern Trust Corp lifted its holdings in Waldencast by 4.1% during the 4th quarter. Northern Trust Corp now owns 167,662 shares of the company's stock worth $674,000 after buying an additional 6,640 shares in the last quarter. Simplicity Wealth LLC bought a new stake in shares of Waldencast during the first quarter worth $360,000. JPMorgan Chase & Co. lifted its stake in shares of Waldencast by 116.3% during 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 during the period. Finally, Renaissance Technologies LLC boosted its holdings in Waldencast by 10.3% in the fourth quarter. Renaissance Technologies LLC now owns 91,800 shares of the company's stock valued at $369,000 after acquiring an additional 8,600 shares during the last quarter. 41.97% of the stock is owned by institutional investors and hedge funds.

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.