Waldencast (NASDAQ:WALD) Given New $7.50 Price Target at DA Davidson

Waldencast (NASDAQ:WALD) had its price target upped by DA Davidson from $7.25 to $7.50 in a research note issued to investors on Wednesday morning,Benzinga reports. DA Davidson currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the company. Canaccord Genuity Group started coverage on Waldencast in a research note on Friday, October 25th. They set a “buy” rating and a $5.00 price objective for the company. Canaccord Genuity Group lifted their price objective on Waldencast from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Waldencast in a research note on Monday, November 18th.

Waldencast Price Performance

Shares of Waldencast stock opened at $3.15 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 12 month low of $2.40 and a 12 month high of $12.00. The business has a fifty day simple moving average of $3.44 and a 200 day simple moving average of $3.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in Waldencast in the second quarter valued at about $239,000. Milestones Administradora de Recursos Ltda. grew its stake in Waldencast by 10.0% in the third quarter. Milestones Administradora de Recursos Ltda. now owns 2,200,000 shares of the company’s stock valued at $8,008,000 after acquiring an additional 200,000 shares during the period. Bleakley Financial Group LLC grew its stake in Waldencast by 75.2% in the third quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company’s stock valued at $96,000 after acquiring an additional 11,288 shares during the period. McAdam LLC acquired a new position in Waldencast in the third quarter valued at about $62,000. Finally, Catalina Capital Group LLC acquired a new position in Waldencast in the third quarter valued at about $58,000. 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.