Waldencast (NASDAQ:WALD) Receives New Coverage from Analysts at Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of Waldencast (NASDAQ:WALD) in a report released on Friday, MarketBeat reports. The firm issued a buy rating and a $5.00 price objective on the stock.

WALD has been the topic of a number of other research reports. DA Davidson upped their price target on shares of Waldencast from $6.50 to $7.25 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Canaccord Genuity Group started coverage on shares of Waldencast in a research report on Friday. They set a “buy” rating and a $5.00 price target on the stock. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 price target on shares of Waldencast in a research report on Wednesday, October 9th.

Waldencast Price Performance

NASDAQ WALD opened at $3.85 on Friday. Waldencast has a twelve month low of $2.40 and a twelve month high of $12.00. The stock has a fifty day simple moving average of $3.56 and a 200 day simple moving average of $3.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47.

Hedge Funds Weigh In On Waldencast

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in shares of Waldencast in the 2nd quarter worth about $37,000. Catalina Capital Group LLC acquired a new stake in shares of Waldencast in the 1st quarter worth about $73,000. Norden Group LLC acquired a new stake in shares of Waldencast in the 1st quarter worth about $92,000. McAdam LLC acquired a new stake in shares of Waldencast in the 3rd quarter worth about $62,000. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Waldencast in the 1st quarter worth about $142,000. Institutional investors own 41.97% of the company’s stock.

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.