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

Waldencast (NASDAQ:WALD)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $7.50 price target on the stock. DA Davidson’s price target suggests a potential upside of 139.62% from the stock’s current price.

A number of other equities analysts also recently weighed in on WALD. TD Cowen started coverage on 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 reissued an “outperform” rating and set a $6.00 price target on shares of Waldencast in a research report on Wednesday. Finally, Canaccord Genuity Group boosted their price target on Waldencast from $5.00 to $6.00 and gave the stock 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’s stock. According to data from MarketBeat.com, Waldencast has a consensus rating of “Moderate Buy” and a consensus target price of $5.76.

Waldencast Trading Down 2.2 %

NASDAQ:WALD opened at $3.13 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. The stock’s 50-day simple moving average is $3.24 and its 200 day simple moving average is $3.47. Waldencast has a 52-week low of $2.41 and a 52-week high of $7.54.

Institutional Trading of Waldencast

Large investors have recently made changes to their positions in the company. Amitell Capital Pte Ltd acquired a new position in Waldencast during the 4th quarter valued at about $780,000. JPMorgan Chase & Co. boosted its stake in Waldencast by 116.3% during the 4th quarter. JPMorgan Chase & Co. now owns 93,561 shares of the company’s stock valued at $376,000 after purchasing an additional 50,311 shares during the last quarter. Barclays PLC boosted its stake in Waldencast by 301.4% during the 3rd quarter. Barclays PLC now owns 32,436 shares of the company’s stock valued at $117,000 after purchasing an additional 24,355 shares during the last quarter. XTX Topco Ltd acquired a new position in Waldencast during the 4th quarter valued at about $70,000. Finally, Ethic Inc. acquired a new position in Waldencast during the 4th quarter valued at about $56,000. 41.97% of the stock is currently 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.