Waldencast (NASDAQ:WALD) Now Covered by Analysts at TD Cowen

TD Cowen assumed coverage on shares of Waldencast (NASDAQ:WALD) in a research note issued to investors on Monday morning, Marketbeat reports. The brokerage issued a hold rating and a $4.30 target price on the stock.

A number of other analysts have also recently weighed in on WALD. DA Davidson boosted their target price on shares of Waldencast from $7.25 to $7.50 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group started coverage on Waldencast in a research report on Friday, October 25th. They set a “buy” rating and a $5.00 price objective on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $6.00 target price on shares of Waldencast in a research report on Monday, November 18th. Finally, Canaccord Genuity Group boosted their price target on Waldencast from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.76.

Waldencast Price Performance

WALD opened at $3.53 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47. The company’s 50 day moving average is $3.45 and its 200-day moving average is $3.52. Waldencast has a 1-year low of $2.40 and a 1-year high of $12.00.

Institutional Trading of Waldencast

Institutional investors and hedge funds have recently bought and sold shares of the stock. Milestones Administradora de Recursos Ltda. lifted its holdings in Waldencast by 10.0% during the 3rd quarter. Milestones Administradora de Recursos Ltda. now owns 2,200,000 shares of the company’s stock worth $8,008,000 after buying an additional 200,000 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Waldencast in the second quarter worth approximately $239,000. Simplicity Wealth LLC lifted its stake in shares of Waldencast by 416.2% in the third quarter. Simplicity Wealth LLC now owns 77,080 shares of the company’s stock worth $281,000 after acquiring an additional 62,148 shares during the period. Barclays PLC boosted its holdings in Waldencast by 301.4% in the third quarter. Barclays PLC now owns 32,436 shares of the company’s stock valued at $117,000 after acquiring an additional 24,355 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Waldencast during the 2nd quarter worth approximately $85,000. 41.97% of the stock is currently owned by institutional investors and hedge funds.

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.