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

Waldencast (NASDAQ:WALD)‘s stock had its “outperform” rating reiterated by equities research analysts at Telsey Advisory Group in a report issued on Tuesday,Benzinga reports. They currently have a $6.00 price target on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 92.31% from the company’s current price.

Several other analysts have also issued reports on the stock. DA Davidson boosted their target price on shares of Waldencast from $7.25 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, December 4th. TD Cowen assumed coverage on shares of Waldencast in a research report on Monday, December 16th. They set a “hold” rating and a $4.30 price objective for the company. Finally, Canaccord Genuity Group raised their target price on Waldencast from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.76.

Waldencast Price Performance

Waldencast stock opened at $3.12 on Tuesday. Waldencast has a 52-week low of $2.41 and a 52-week high of $7.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47. The business has a 50-day simple moving average of $3.29 and a two-hundred day simple moving average of $3.47.

Institutional Trading of Waldencast

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its stake in shares of Waldencast by 29.9% during the 4th quarter. Wells Fargo & Company MN now owns 14,571 shares of the company’s stock valued at $59,000 after buying an additional 3,358 shares in the last quarter. Barclays PLC raised its holdings in Waldencast by 15.1% during the fourth quarter. Barclays PLC now owns 37,342 shares of the company’s stock valued at $150,000 after acquiring an additional 4,906 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Waldencast by 293.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,854 shares of the company’s stock valued at $25,000 after acquiring an additional 5,114 shares in the last quarter. Northern Trust Corp lifted its position in shares of Waldencast by 4.1% in the fourth quarter. Northern Trust Corp now owns 167,662 shares of the company’s stock valued at $674,000 after acquiring an additional 6,640 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Waldencast by 10.3% in the fourth quarter. Renaissance Technologies LLC now owns 91,800 shares of the company’s stock worth $369,000 after acquiring an additional 8,600 shares during the period. 41.97% of the stock is owned by hedge funds and other institutional investors.

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.