Waldencast (NASDAQ:WALD) Price Target Raised to $6.00 at Canaccord Genuity Group

Waldencast (NASDAQ:WALD) had its price objective upped by Canaccord Genuity Group from $5.00 to $6.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on WALD. Canaccord Genuity Group began coverage on shares of Waldencast in a research report on Friday, October 25th. They set a “buy” rating and a $5.00 price target for the company. Telsey Advisory Group restated an “outperform” rating and set a $6.00 price target on shares of Waldencast in a research report on Monday, November 18th. Finally, DA Davidson upped their target price on shares of Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a research report on Wednesday, September 4th.

Waldencast Stock Up 0.6 %

Waldencast stock opened at $3.34 on Friday. Waldencast has a 1-year low of $2.40 and a 1-year high of $12.00. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $3.55 and a 200 day simple moving average of $3.62.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WALD. Point72 Asia Singapore Pte. Ltd. lifted its stake in Waldencast by 293.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,854 shares of the company’s stock worth $25,000 after purchasing an additional 5,114 shares during the last quarter. Marshall Wace LLP bought a new position in Waldencast in the second quarter worth about $37,000. Catalina Capital Group LLC bought a new position in Waldencast in the third quarter worth about $58,000. McAdam LLC bought a new position in Waldencast in the third quarter worth about $62,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Waldencast in the second quarter worth about $85,000. 41.97% of the stock is currently 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.