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

Waldencast PLC (NASDAQ:WALD) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.9667.

WALD has been the topic of a number of analyst reports. Telsey Advisory Group decreased their price target on Waldencast from $4.00 to $3.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Waldencast in a report on Wednesday, October 8th.

Hedge Funds Weigh In On Waldencast

A number of hedge funds have recently modified their holdings of WALD. Milestones Administradora de Recursos Ltda. raised its stake in shares of Waldencast by 10.3% during the third quarter. Milestones Administradora de Recursos Ltda. now owns 2,425,677 shares of the company’s stock valued at $4,803,000 after acquiring an additional 225,677 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Waldencast by 62.2% in the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company’s stock worth $1,437,000 after purchasing an additional 224,905 shares during the last quarter. McAdam LLC increased its holdings in Waldencast by 174.6% during the 3rd quarter. McAdam LLC now owns 63,014 shares of the company’s stock valued at $125,000 after purchasing an additional 40,063 shares during the period. Rhumbline Advisers raised its position in Waldencast by 15.2% during the 1st quarter. Rhumbline Advisers now owns 61,630 shares of the company’s stock valued at $185,000 after purchasing an additional 8,151 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position 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 purchasing an additional 6,516 shares during the last quarter. Hedge funds and other institutional investors own 41.97% of the company’s stock.

Waldencast Trading Up 1.1%

WALD opened at $1.82 on Friday. Waldencast has a 12 month low of $1.48 and a 12 month high of $4.18. The business’s 50-day moving average price is $1.87 and its 200-day moving average price is $2.16.

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.