DA Davidson Reaffirms “Buy” Rating for Waldencast (NASDAQ:WALD)

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

A number of other equities research analysts have also recently commented on the stock. TD Cowen initiated coverage on shares of Waldencast in a report on Monday, December 16th. They set a “hold” rating and a $4.30 price target on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $6.00 price target on shares of Waldencast in a report on Wednesday. Finally, Canaccord Genuity Group increased 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.76.

Waldencast Stock Performance

Shares of NASDAQ WALD traded up $0.14 on Wednesday, reaching $3.45. 31,013 shares of the company’s stock traded hands, compared to its average volume of 127,077. Waldencast has a 12 month low of $2.41 and a 12 month high of $7.54. The business’s 50 day simple moving average is $3.24 and its two-hundred day simple moving average is $3.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.47 and a quick ratio of 0.78.

Institutional Investors Weigh In On Waldencast

Several institutional investors and hedge funds have recently added to or reduced their stakes in WALD. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Waldencast by 293.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,854 shares of the company’s stock valued at $25,000 after purchasing an additional 5,114 shares during the period. Barclays PLC grew its stake in shares of Waldencast by 301.4% in the 3rd quarter. Barclays PLC now owns 32,436 shares of the company’s stock worth $117,000 after buying an additional 24,355 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of 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 period. SG Americas Securities LLC purchased a new position in shares of Waldencast during the 4th quarter worth about $42,000. Finally, Catalina Capital Group LLC boosted its stake in shares of 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 period. 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.