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

Waldencast (NASDAQ:WALD)‘s stock had its “outperform” rating restated by analysts at Telsey Advisory Group in a report issued on Monday,Benzinga reports. They presently have a $6.00 price target on the stock. Telsey Advisory Group’s price target indicates a potential upside of 85.19% from the stock’s current price.

Several other brokerages have also issued reports on WALD. Canaccord Genuity Group started coverage on shares of Waldencast in a research report on Friday, October 25th. They set a “buy” rating and a $5.00 target price for the company. DA Davidson boosted their target price on shares of Waldencast from $6.50 to $7.25 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, Canaccord Genuity Group started coverage on shares of Waldencast in a research report on Friday, October 25th. They set a “buy” rating and a $5.00 target price for the company.

Waldencast Stock Performance

Shares of NASDAQ WALD opened at $3.24 on Monday. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $3.62 and its 200-day moving average price is $3.66. Waldencast has a 52-week low of $2.40 and a 52-week high of $12.00.

Hedge Funds Weigh In On Waldencast

A number of hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. boosted 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 worth $25,000 after purchasing an additional 5,114 shares during the period. Marshall Wace LLP bought a new position in shares of Waldencast in the second quarter worth approximately $37,000. Bleakley Financial Group LLC boosted its position 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 worth $96,000 after purchasing an additional 11,288 shares during the period. Catalina Capital Group LLC bought a new position in shares of Waldencast in the third quarter worth approximately $58,000. Finally, McAdam LLC bought a new position in shares of Waldencast in the third quarter worth approximately $62,000. 41.97% of the stock is currently owned by 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.