DA Davidson Reaffirms Buy Rating for Waldencast (NASDAQ:WALD)

DA Davidson reiterated their buy rating on shares of Waldencast (NASDAQ:WALD) in a research report released on Wednesday morning,Benzinga reports. They currently have a $7.50 price target on the stock.

A number of other brokerages have also recently weighed in on WALD. TD Cowen initiated coverage on shares of Waldencast in a research report on Monday, December 16th. They set a “hold” rating and a $4.30 price target on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $6.00 price target on shares of Waldencast in a report on Wednesday. Finally, Canaccord Genuity Group raised their price objective on Waldencast from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.76.

Waldencast Price Performance

NASDAQ WALD opened at $3.11 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21. Waldencast has a 1-year low of $2.41 and a 1-year high of $7.54. The business’s 50-day simple moving average is $3.24 and its 200-day simple moving average is $3.46.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Barclays PLC increased its stake in Waldencast by 301.4% during the 3rd quarter. Barclays PLC now owns 32,436 shares of the company’s stock worth $117,000 after buying an additional 24,355 shares during the period. SG Americas Securities LLC purchased a new position in Waldencast in the 4th quarter valued at about $42,000. JPMorgan Chase & Co. grew its stake in shares of Waldencast by 52.0% during the third quarter. JPMorgan Chase & Co. now owns 43,250 shares of the company’s stock valued at $157,000 after acquiring an additional 14,803 shares in the last quarter. Catalina Capital Group LLC increased its position in shares of Waldencast by 69.9% during the fourth quarter. Catalina Capital Group LLC now owns 27,102 shares of the company’s stock worth $109,000 after acquiring an additional 11,154 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Waldencast by 29.9% in the fourth quarter. Wells Fargo & Company MN now owns 14,571 shares of the company’s stock worth $59,000 after acquiring an additional 3,358 shares in the last quarter. 41.97% of the stock is owned by institutional investors and hedge funds.

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.