Canaccord Genuity Group Initiates Coverage on Waldencast (NASDAQ:WALD)

Canaccord Genuity Group started coverage on shares of Waldencast (NASDAQ:WALD) in a research note released on Friday, Marketbeat.com reports. The firm issued a buy rating and a $5.00 target price on the stock.

WALD has been the subject of a number of other reports. DA Davidson raised their target price on shares of Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Telsey Advisory Group reissued an “outperform” rating and set a $6.00 price objective on shares of Waldencast in a research note on Wednesday, October 9th.

Waldencast Trading Up 3.3 %

NASDAQ:WALD opened at $3.49 on Friday. The company has a 50-day moving average of $3.54 and a 200-day moving average of $3.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47. Waldencast has a twelve month low of $2.40 and a twelve month high of $12.00.

Institutional Investors Weigh In On Waldencast

A number of large investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new position in Waldencast in the 2nd quarter worth approximately $37,000. Bleakley Financial Group LLC boosted its position in shares of Waldencast by 75.2% in the third quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company’s stock worth $96,000 after buying an additional 11,288 shares during the period. Catalina Capital Group LLC purchased a new position in shares of Waldencast during the first quarter valued at $73,000. Norden Group LLC acquired a new stake in Waldencast during the 1st quarter worth about $92,000. Finally, McAdam LLC purchased a new position in Waldencast during the 3rd quarter valued at about $62,000. 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.