Waldencast’s (WALD) Buy Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Waldencast (NASDAQ:WALD) in a research note released on Wednesday morning,Benzinga reports. DA Davidson currently has a $7.50 price target on the stock.

WALD has been the subject of a number of other research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $6.00 price objective on shares of Waldencast in a research report on Wednesday. Canaccord Genuity Group raised their target price on Waldencast from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, TD Cowen started coverage on shares of Waldencast in a report on Monday, December 16th. They issued a “hold” rating and a $4.30 price target on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.76.

Waldencast Stock Performance

Shares of WALD opened at $3.20 on Wednesday. Waldencast has a 52 week low of $2.41 and a 52 week high of $7.54. The company has a 50-day simple moving average of $3.24 and a 200-day simple moving average of $3.47. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21.

Institutional Trading of Waldencast

Several institutional investors have recently bought and sold shares of WALD. Point72 Asia Singapore Pte. Ltd. raised its stake in Waldencast by 293.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,854 shares of the company’s stock worth $25,000 after acquiring an additional 5,114 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Waldencast in the 4th quarter worth about $42,000. Stonebrook Private Inc. acquired a new stake in shares of Waldencast during the 4th quarter worth about $48,000. Ethic Inc. bought a new position in Waldencast during the 4th quarter valued at about $56,000. Finally, Wells Fargo & Company MN boosted its position in Waldencast by 29.9% in the fourth quarter. Wells Fargo & Company MN now owns 14,571 shares of the company’s stock valued at $59,000 after buying an additional 3,358 shares in the last quarter. Institutional investors and hedge funds own 41.97% of the company’s stock.

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.