Waldencast PLC (NASDAQ:WALD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Waldencast PLC (NASDAQ:WALD) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $4.9667.

Several equities research analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Waldencast in a research report on Wednesday, October 8th. Telsey Advisory Group lowered their price objective on shares of Waldencast from $4.00 to $3.00 and set an “outperform” rating for the company in a research note on Wednesday, August 20th.

Institutional Investors Weigh In On Waldencast

Several institutional investors and hedge funds have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Waldencast during the second quarter valued at approximately $26,000. Invesco Ltd. purchased a new stake in Waldencast in the second quarter worth $26,000. Covestor Ltd boosted its holdings in Waldencast by 98,716.0% in the third quarter. Covestor Ltd now owns 24,704 shares of the company’s stock valued at $49,000 after acquiring an additional 24,679 shares in the last quarter. McAdam LLC purchased a new position in Waldencast during the 2nd quarter valued at $56,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Waldencast by 57.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,130 shares of the company’s stock valued at $57,000 after purchasing an additional 8,485 shares during the period. Hedge funds and other institutional investors own 41.97% of the company’s stock.

Waldencast Price Performance

NASDAQ:WALD opened at $1.78 on Friday. Waldencast has a fifty-two week low of $1.48 and a fifty-two week high of $4.18. The business has a 50 day moving average price of $1.88 and a 200-day moving average price of $2.13.

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.