Waldencast (NASDAQ:WALD) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

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

Several other research analysts have also weighed in on the stock. DA Davidson increased their target price on shares of Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Canaccord Genuity Group assumed coverage on shares of Waldencast in a research note on Friday, October 25th. They set a “buy” rating and a $5.00 target price for the company. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $6.00 price target on shares of Waldencast in a research report on Monday, November 18th.

Waldencast Stock Performance

Shares of WALD stock opened at $3.32 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $3.57 and a two-hundred day moving average of $3.64. Waldencast has a 1-year low of $2.40 and a 1-year high of $12.00.

Institutional Trading of Waldencast

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in Waldencast in the second quarter valued at approximately $239,000. Milestones Administradora de Recursos Ltda. raised its holdings 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 in the last quarter. Bleakley Financial Group LLC raised its holdings in Waldencast by 75.2% in the third quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company’s stock valued at $96,000 after acquiring an additional 11,288 shares in the last quarter. McAdam LLC acquired a new stake in Waldencast in the third quarter valued at approximately $62,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Waldencast in the second quarter valued at approximately $85,000. Institutional investors and hedge funds 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.