Waldencast (NASDAQ:WALD) Now Covered by Canaccord Genuity Group

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

A number of other research firms have also issued reports on WALD. Telsey Advisory Group reissued an “outperform” rating and issued a $6.00 target price on shares of Waldencast in a report on Wednesday, October 9th. DA Davidson boosted their target price on Waldencast from $6.50 to $7.25 and gave the company a “buy” rating in a report on Wednesday, September 4th.

Waldencast Trading Up 3.3 %

Shares of NASDAQ:WALD traded up $0.11 during trading on Friday, reaching $3.49. The company had a trading volume of 66,777 shares, compared to its average volume of 136,278. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average price is $3.54 and its 200 day moving average price is $3.92. Waldencast has a fifty-two week low of $2.40 and a fifty-two week high of $12.00.

Institutional Trading of Waldencast

A number of institutional investors have recently modified their holdings of WALD. Marshall Wace LLP purchased a new stake in shares of Waldencast in the second quarter valued at approximately $37,000. McAdam LLC purchased a new stake in shares of Waldencast in the third quarter valued at approximately $62,000. Catalina Capital Group LLC purchased a new stake in shares of Waldencast in the first quarter valued at approximately $73,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Waldencast in the second quarter valued at approximately $85,000. Finally, Norden Group LLC purchased a new stake in shares of Waldencast in the first quarter valued at approximately $92,000. 41.97% of the stock is currently owned by hedge funds and other institutional investors.

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.