Brokerages Set Waldencast PLC (NASDAQ:WALD) PT at $4.42

Shares of Waldencast PLC (NASDAQ:WALD) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $4.4167.

WALD has been the subject of a number of research analyst reports. Canaccord Genuity Group cut their price target on Waldencast from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Waldencast in a research note on Wednesday, January 21st. Telsey Advisory Group downgraded shares of Waldencast from an “outperform” rating to a “market perform” rating and set a $3.00 price target for the company. in a report on Tuesday, November 25th. Finally, Jefferies Financial Group started coverage on shares of Waldencast in a report on Wednesday, January 14th. They set a “buy” rating and a $2.00 price objective on the stock.

Hedge Funds Weigh In On Waldencast

Several large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in shares of Waldencast in the 1st quarter worth approximately $77,000. Rhumbline Advisers raised its stake in shares of Waldencast by 15.2% in the first quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock valued at $185,000 after purchasing an additional 8,151 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Waldencast by 62.2% in the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock valued at $1,437,000 after purchasing an additional 224,905 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in Waldencast in the second quarter worth $26,000. Finally, Invesco Ltd. acquired a new stake in Waldencast during the second quarter worth $26,000. Institutional investors and hedge funds own 41.97% of the company’s stock.

Waldencast Stock Down 4.4%

Shares of NASDAQ:WALD opened at $1.74 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average is $1.78 and its 200-day moving average is $1.88. Waldencast has a 52-week low of $1.45 and a 52-week high of $3.54.

Waldencast (NASDAQ:WALD) last posted its quarterly earnings data on Monday, November 24th. The company reported ($0.69) earnings per share for the quarter. The company had revenue of $66.14 million during the quarter. On average, sell-side analysts forecast that Waldencast will post -0.14 earnings per share for the current fiscal year.

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. The company also offers clean makeup products under the Milk Makeup brand. It sells its products to dermatologists, plastic surgeons, and other physicians who focuses on aesthetic and therapeutic skincare, including physicians on site at medical spas, through its direct sales force, as well as through distribution partners.