Waldencast’s (WALD) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Waldencast (NASDAQ:WALD) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $6.00 price objective on the stock.

Several other analysts also recently weighed in on WALD. TD Cowen started coverage on shares of Waldencast in a report on Monday, December 16th. They issued a “hold” rating and a $4.30 target price on the stock. DA Davidson lifted their price objective on Waldencast from $7.25 to $7.50 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group boosted their target price on Waldencast from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Waldencast has a consensus rating of “Moderate Buy” and a consensus price target of $5.76.

Waldencast Price Performance

NASDAQ:WALD opened at $3.10 on Tuesday. 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 fifty day moving average price is $3.27 and its 200 day moving average price is $3.47. Waldencast has a 1-year low of $2.41 and a 1-year high of $7.54.

Institutional Trading of Waldencast

Several hedge funds and other institutional investors have recently made changes to their positions in WALD. Point72 Asia Singapore Pte. Ltd. grew its position in Waldencast by 293.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,854 shares of the company’s stock worth $25,000 after buying an additional 5,114 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Waldencast during the 4th quarter worth approximately $42,000. Stonebrook Private Inc. acquired a new stake in shares of Waldencast in the 4th quarter worth approximately $48,000. Ethic Inc. purchased a new position in Waldencast in the 4th quarter valued at approximately $56,000. Finally, Wells Fargo & Company MN increased its stake in Waldencast by 29.9% in the 4th quarter. Wells Fargo & Company MN now owns 14,571 shares of the company’s stock valued at $59,000 after purchasing an additional 3,358 shares in the last quarter. 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.