Waldencast (NASDAQ:WALD) Now Covered by Jefferies Financial Group

Stock analysts at Jefferies Financial Group started coverage on shares of Waldencast (NASDAQ:WALD) in a report released on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $2.00 price target on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 22.70% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Waldencast in a research note on Wednesday, October 8th. Canaccord Genuity Group reduced their price objective on Waldencast from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Finally, Telsey Advisory Group lowered Waldencast from an “outperform” rating to a “market perform” rating and set a $3.00 target price on the stock. in a report on Tuesday, November 25th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.42.

Waldencast Stock Performance

Shares of WALD opened at $1.63 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.32. Waldencast has a 52-week low of $1.45 and a 52-week high of $4.10. The company has a 50-day simple moving average of $2.03 and a 200-day simple moving average of $2.00.

Waldencast (NASDAQ:WALD) last released its quarterly earnings data on Monday, November 24th. The company reported ($0.69) EPS for the quarter. The company had revenue of $66.14 million for the quarter. On average, analysts predict that Waldencast will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Waldencast

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in Waldencast by 12.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,702 shares of the company’s stock valued at $114,000 after buying an additional 6,516 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Waldencast during the third quarter valued at $78,000. UBS Group AG increased its position in Waldencast by 466.2% during the 3rd quarter. UBS Group AG now owns 838,536 shares of the company’s stock worth $1,660,000 after purchasing an additional 690,441 shares in the last quarter. Milestones Administradora de Recursos Ltda. increased its position in Waldencast by 10.3% during the 3rd quarter. Milestones Administradora de Recursos Ltda. now owns 2,425,677 shares of the company’s stock worth $4,803,000 after purchasing an additional 225,677 shares in the last quarter. Finally, Covestor Ltd raised its stake in Waldencast by 98,716.0% in the 3rd quarter. Covestor Ltd now owns 24,704 shares of the company’s stock valued at $49,000 after purchasing an additional 24,679 shares during the last quarter. Hedge funds and other institutional investors own 41.97% of the company’s stock.

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. The company also offers clean makeup products under the Milk Makeup brand. It sells its products to dermatologists, plastic surgeons, and other physicians who focuses on aesthetic and therapeutic skincare, including physicians on site at medical spas, through its direct sales force, as well as through distribution partners.