Waldencast (NASDAQ:WALD) Price Target Raised to $6.00

Waldencast (NASDAQ:WALD) had its target price boosted by Canaccord Genuity Group from $5.00 to $6.00 in a report released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

WALD has been the topic of several other research reports. Canaccord Genuity Group initiated 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. DA Davidson increased their target price on Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $6.00 target price on shares of Waldencast in a report on Monday, November 18th.

Waldencast Stock Performance

WALD stock opened at $3.32 on Friday. 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 business’s fifty day moving average price is $3.57 and its two-hundred day moving average price is $3.63. Waldencast has a fifty-two week low of $2.40 and a fifty-two week high of $12.00.

Institutional Trading of Waldencast

Several large investors have recently modified their holdings of the stock. Barclays PLC grew its holdings in shares of 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Waldencast by 293.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,854 shares of the company’s stock valued at $25,000 after acquiring an additional 5,114 shares during the last quarter. Catalina Capital Group LLC bought a new position in Waldencast in the third quarter valued at about $58,000. Milestones Administradora de Recursos Ltda. grew its position in Waldencast by 10.0% in the third quarter. Milestones Administradora de Recursos Ltda. now owns 2,200,000 shares of the company’s stock valued at $8,008,000 after acquiring an additional 200,000 shares during the last quarter. Finally, McAdam LLC bought a new position in Waldencast in the third quarter valued at about $62,000. 41.97% of the stock is 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.