Waldencast’s (WALD) “Outperform” Rating Reiterated at Telsey Advisory Group

Waldencast (NASDAQ:WALD)‘s stock had its “outperform” rating restated by analysts at Telsey Advisory Group in a note issued to investors on Wednesday, Benzinga reports. They currently have a $6.00 price target on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 75.44% from the company’s current price.

Separately, DA Davidson raised their price target on shares of Waldencast from $6.50 to $7.25 and gave the company a “buy” rating in a report on Wednesday, September 4th.

Waldencast Price Performance

WALD traded down $0.02 on Wednesday, hitting $3.42. 8,370 shares of the company were exchanged, compared to its average volume of 141,286. Waldencast has a 12 month low of $2.40 and a 12 month high of $12.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.47 and a quick ratio of 0.78. The firm has a fifty day simple moving average of $3.37 and a two-hundred day simple moving average of $4.17.

Institutional Investors Weigh In On Waldencast

Several institutional investors have recently made changes to their positions in WALD. Marshall Wace LLP purchased a new stake in shares of Waldencast during the second quarter valued at $37,000. Catalina Capital Group LLC bought a new position in Waldencast in the first quarter worth approximately $73,000. Cubist Systematic Strategies LLC purchased a new position in Waldencast during the 2nd quarter worth $85,000. Norden Group LLC bought a new stake in Waldencast during the 1st quarter valued at $92,000. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Waldencast in the 1st quarter worth $142,000. Institutional investors own 41.97% of the company’s stock.

About Waldencast

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.