Waldencast PLC (NASDAQ:WALD) Receives $4.97 Average PT from Brokerages

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.

Waldencast PLC (NASDAQ:WALD - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $4.9714.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its holdings in Waldencast by 29.9% during the 4th 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 during the period. Barclays PLC lifted its holdings in Waldencast by 15.1% during the 4th quarter. Barclays PLC now owns 37,342 shares of the company's stock worth $150,000 after buying an additional 4,906 shares during the period. 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 during the period. Rhumbline Advisers lifted its holdings in Waldencast by 15.2% during the 1st quarter. Rhumbline Advisers now owns 61,630 shares of the company's stock worth $185,000 after buying an additional 8,151 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Waldencast by 57.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company's stock worth $57,000 after buying an additional 8,485 shares during the period. 41.97% of the stock is owned by institutional investors and hedge funds.

Waldencast Trading Down 1.3%

Shares of WALD stock traded down $0.02 during trading hours on Monday, reaching $1.56. The company's stock had a trading volume of 87,476 shares, compared to its average volume of 530,209. The firm's 50 day simple moving average is $2.13 and its 200-day simple moving average is $2.54. Waldencast has a fifty-two week low of $1.50 and a fifty-two week high of $4.40. 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 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.