Brokerages Set Waldencast PLC (NASDAQ:WALD) Price Target at $4.97

Key Points

• Waldencast PLC has received a consensus rating of "Moderate Buy" from six research firms, with five analysts issuing buy ratings and one a hold rating.
• The average 12-month price target for Waldencast shares is $4.97, despite recent adjustments from Telsey Advisory Group and Canaccord Genuity Group lowering their price objectives.
• Throughout the second quarter, Geode Capital Management increased its stake in Waldencast by 62.2%, indicating growing institutional interest in the company.

Shares of Waldencast PLC (NASDAQ:WALD - Get Free Report) have received an average rating of "Moderate Buy" from the six ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $4.9714.

WALD has been the subject of several recent research reports. Alliance Global Partners restated a "buy" rating on shares of Waldencast in a research report on Thursday, May 15th. Telsey Advisory Group cut their price objective on shares of Waldencast from $4.00 to $3.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 20th. Wall Street Zen downgraded shares of Waldencast from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Canaccord Genuity Group reduced their target price on shares of Waldencast from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Thursday, May 15th.

Waldencast Stock Up 2.2%

WALD traded up $0.04 during trading on Monday, hitting $1.62. The company had a trading volume of 153,816 shares, compared to its average volume of 525,919. The business has a 50-day moving average of $2.16 and a 200-day moving average of $2.57. The company has a current ratio of 1.35, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. Waldencast has a 1-year low of $1.50 and a 1-year high of $4.74.

Institutional Investors Weigh In On Waldencast

Several large investors have recently made changes to their positions in WALD. Barclays PLC increased its position in shares of Waldencast by 15.1% in the fourth quarter. Barclays PLC now owns 37,342 shares of the company's stock worth $150,000 after purchasing an additional 4,906 shares during the period. Northern Trust Corp lifted its stake in Waldencast by 4.1% in the fourth quarter. Northern Trust Corp now owns 167,662 shares of the company's stock valued at $674,000 after buying an additional 6,640 shares during the period. Ethic Inc. acquired a new position in shares of Waldencast during the fourth quarter worth approximately $56,000. Wells Fargo & Company MN grew its holdings in Waldencast by 29.9% during the fourth quarter. Wells Fargo & Company MN now owns 14,571 shares of the company's stock worth $59,000 after buying an additional 3,358 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Waldencast during the fourth 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.