Waldencast (NASDAQ:WALD) Given New $7.25 Price Target at DA Davidson

Waldencast (NASDAQ:WALD) had its price objective hoisted by DA Davidson from $6.50 to $7.25 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective indicates a potential upside of 110.76% from the stock’s previous close.

Separately, Telsey Advisory Group cut their price objective on Waldencast from $8.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th.

Waldencast Price Performance

NASDAQ:WALD traded up $0.43 during trading hours on Wednesday, hitting $3.44. 190,521 shares of the company’s stock traded hands, compared to its average volume of 145,389. Waldencast has a twelve month low of $2.40 and a twelve month high of $12.00. 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 fifty day moving average price is $3.18 and its two-hundred day moving average price is $4.71.

Hedge Funds Weigh In On Waldencast

Several large investors have recently added to or reduced their stakes in the company. Zeno Equity Partners LLP acquired a new position in shares of Waldencast in the 4th quarter worth approximately $224,278,000. Norden Group LLC acquired a new position in shares of Waldencast in the 1st quarter worth approximately $92,000. Simplicity Wealth LLC acquired a new position in shares of Waldencast in the 1st quarter worth approximately $142,000. Catalina Capital Group LLC acquired a new position in shares of Waldencast in the 1st quarter worth approximately $73,000. Finally, Bleakley Financial Group LLC bought a new stake in Waldencast during the 1st quarter worth approximately $142,000. Institutional investors and hedge funds 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.