Ethic Inc. Invests $56,000 in Waldencast plc (NASDAQ:WALD)

Ethic Inc. purchased a new position in shares of Waldencast plc (NASDAQ:WALD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,914 shares of the company’s stock, valued at approximately $56,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in WALD. Amitell Capital Pte Ltd purchased a new position in shares of Waldencast during the 4th quarter worth approximately $780,000. JPMorgan Chase & Co. boosted its position in shares of Waldencast by 116.3% during the 4th quarter. JPMorgan Chase & Co. now owns 93,561 shares of the company’s stock worth $376,000 after purchasing an additional 50,311 shares during the period. Barclays PLC boosted its position in shares of Waldencast by 301.4% during the 3rd quarter. Barclays PLC now owns 32,436 shares of the company’s stock worth $117,000 after purchasing an additional 24,355 shares during the period. XTX Topco Ltd purchased a new position in shares of Waldencast during the 4th quarter worth approximately $70,000. Finally, Catalina Capital Group LLC boosted its position in shares of Waldencast by 69.9% during the 4th quarter. Catalina Capital Group LLC now owns 27,102 shares of the company’s stock worth $109,000 after purchasing an additional 11,154 shares during the period. Institutional investors and hedge funds own 41.97% of the company’s stock.

Wall Street Analysts Forecast Growth

WALD has been the subject of several recent research reports. Industrial Alliance Securities set a $5.00 price target on shares of Waldencast in a research report on Tuesday, April 22nd. Canaccord Genuity Group decreased their price target on shares of Waldencast from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday. Telsey Advisory Group decreased their price target on shares of Waldencast from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday. DA Davidson reissued a “buy” rating and issued a $7.50 price target on shares of Waldencast in a research report on Wednesday, March 19th. Finally, Alliance Global Partners initiated coverage on shares of Waldencast in a research report on Tuesday, April 22nd. They issued a “buy” rating and a $5.00 price target for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Waldencast has an average rating of “Moderate Buy” and a consensus target price of $5.11.

Waldencast Price Performance

Waldencast stock opened at $2.11 on Monday. The company has a fifty day simple moving average of $2.79 and a 200-day simple moving average of $3.18. Waldencast plc has a 12-month low of $2.02 and a 12-month high of $5.21. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21.

Waldencast 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.