Waldencast (NASDAQ:WALD) Coverage Initiated by Analysts at TD Cowen

TD Cowen assumed coverage on shares of Waldencast (NASDAQ:WALD) in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm issued a hold rating and a $4.30 price objective on the stock.

Several other analysts have also issued reports on the company. Telsey Advisory Group reiterated an “outperform” rating and set a $6.00 price objective on shares of Waldencast in a report on Monday, November 18th. Canaccord Genuity Group raised their target price on Waldencast from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Canaccord Genuity Group assumed coverage on shares of Waldencast in a research report on Friday, October 25th. They set a “buy” rating and a $5.00 price objective for the company. Finally, DA Davidson raised their target price on Waldencast from $7.25 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.76.

Waldencast Trading Down 2.6 %

WALD opened at $3.79 on Monday. Waldencast has a 12-month low of $2.40 and a 12-month high of $12.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47. The stock has a fifty day moving average of $3.44 and a 200-day moving average of $3.52.

Institutional Investors Weigh In On Waldencast

Hedge funds and other institutional investors have recently bought and sold shares of the business. Milestones Administradora de Recursos Ltda. raised its position in Waldencast by 10.0% in the 3rd quarter. Milestones Administradora de Recursos Ltda. now owns 2,200,000 shares of the company’s stock worth $8,008,000 after purchasing an additional 200,000 shares during the last quarter. Renaissance Technologies LLC bought a new position in Waldencast during the second quarter worth about $239,000. Simplicity Wealth LLC grew its position in shares of Waldencast by 416.2% during the 3rd quarter. Simplicity Wealth LLC now owns 77,080 shares of the company’s stock worth $281,000 after buying an additional 62,148 shares during the period. Barclays PLC grew its position in shares of 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. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Waldencast in the 2nd quarter valued at about $85,000. 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.