Telsey Advisory Group Reiterates Outperform Rating for Waldencast (NASDAQ:WALD)

Waldencast (NASDAQ:WALD)‘s stock had its “outperform” rating reiterated by investment analysts at Telsey Advisory Group in a research note issued on Monday,Benzinga reports. They currently have a $6.00 target price on the stock. Telsey Advisory Group’s price objective points to a potential upside of 85.19% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. DA Davidson boosted their target price on shares of Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a report on Wednesday, September 4th. 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 price target on the stock. Finally, 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 price target on the stock.

Waldencast Trading Up 0.3 %

WALD stock opened at $3.24 on Monday. Waldencast has a one year low of $2.40 and a one year high of $12.00. The company’s fifty day moving average price is $3.62 and its 200-day moving average price is $3.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.47 and a quick ratio of 0.78.

Institutional Investors Weigh In On Waldencast

A number of hedge funds have recently bought and sold shares of WALD. Renaissance Technologies LLC purchased a new stake in Waldencast during the second quarter valued at $239,000. Marshall Wace LLP purchased a new stake in shares of Waldencast in the second quarter valued at $37,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Waldencast in the second quarter valued at $85,000. Simplicity Wealth LLC raised its stake in shares of Waldencast by 416.2% in the third quarter. Simplicity Wealth LLC now owns 77,080 shares of the company’s stock valued at $281,000 after acquiring an additional 62,148 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in shares of 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 during the period. Hedge funds and other 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.