Waldencast (NASDAQ:WALD) Shares Up 11.8% – What’s Next?

Waldencast plc (NASDAQ:WALD) shares traded up 11.8% during mid-day trading on Friday . The stock traded as high as $4.18 and last traded at $4.18. 82,630 shares were traded during trading, a decline of 36% from the average session volume of 129,952 shares. The stock had previously closed at $3.74.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Waldencast from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Canaccord Genuity Group began 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. DA Davidson increased their price target on Waldencast from $7.25 to $7.50 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $6.00 price objective on shares of Waldencast in a report on Monday, November 18th.

Waldencast Price Performance

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 firm’s 50-day moving average is $3.43 and its 200-day moving average is $3.53.

Institutional Investors Weigh In On Waldencast

A number of hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC bought a new position in Waldencast in the 2nd quarter worth $239,000. Marshall Wace LLP purchased a new stake in Waldencast in the second quarter worth about $37,000. Cubist Systematic Strategies LLC bought a new position in shares of Waldencast in the second quarter worth about $85,000. Simplicity Wealth LLC lifted its position in shares of Waldencast by 416.2% during the 3rd quarter. Simplicity Wealth LLC now owns 77,080 shares of the company’s stock valued at $281,000 after buying an additional 62,148 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of Waldencast by 75.2% during the 3rd 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 during the period. Institutional investors 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.