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

Waldencast (NASDAQ:WALD)‘s stock had its “buy” rating reissued by equities researchers at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They presently have a $7.50 target price on the stock. DA Davidson’s price objective would indicate a potential upside of 117.39% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group boosted their price target on shares of Waldencast from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Telsey Advisory Group reiterated an “outperform” rating and set a $6.00 price objective on shares of Waldencast in a research note on Wednesday. Finally, TD Cowen initiated coverage on shares of Waldencast in a research note on Monday, December 16th. They set a “hold” rating and a $4.30 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $5.76.

Waldencast Trading Up 4.2 %

Shares of NASDAQ:WALD traded up $0.14 during trading hours on Wednesday, hitting $3.45. The company’s stock had a trading volume of 31,013 shares, compared to its average volume of 127,077. Waldencast has a 52 week low of $2.41 and a 52 week high of $7.54. 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 firm’s fifty day moving average price is $3.24 and its 200 day moving average price is $3.47.

Institutional Trading of Waldencast

Several large investors have recently bought and sold shares of WALD. Point72 Asia Singapore Pte. Ltd. grew its position in Waldencast by 293.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,854 shares of the company’s stock worth $25,000 after purchasing an additional 5,114 shares during the last quarter. Barclays PLC grew its position in Waldencast by 301.4% during the 3rd quarter. Barclays PLC now owns 32,436 shares of the company’s stock worth $117,000 after purchasing an additional 24,355 shares during the last quarter. JPMorgan Chase & Co. grew its position in Waldencast by 52.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,250 shares of the company’s stock worth $157,000 after purchasing an additional 14,803 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Waldencast during the 4th quarter worth approximately $42,000. Finally, Catalina Capital Group LLC grew its position in Waldencast by 69.9% during the 4th quarter. Catalina Capital Group LLC now owns 27,102 shares of the company’s stock worth $109,000 after purchasing an additional 11,154 shares during the last quarter. Hedge funds and other institutional investors 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.