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

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

A number of other equities analysts have also recently weighed in on the stock. DA Davidson increased their price objective on shares of Waldencast from $6.50 to $7.25 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Canaccord Genuity Group began coverage on 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 initiated coverage on Waldencast in a research report on Friday, October 25th. They set a “buy” rating and a $5.00 price target for the company.

Waldencast Stock Performance

NASDAQ WALD opened at $3.41 on Monday. Waldencast has a 12 month low of $2.40 and a 12 month high of $12.00. The firm’s 50-day moving average is $3.60 and its two-hundred day moving average is $3.66. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On Waldencast

Several institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new position in shares of Waldencast in the 2nd quarter valued at about $239,000. Milestones Administradora de Recursos Ltda. raised its holdings in Waldencast by 10.0% in the third quarter. Milestones Administradora de Recursos Ltda. now owns 2,200,000 shares of the company’s stock valued at $8,008,000 after acquiring an additional 200,000 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in 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 acquiring an additional 11,288 shares during the last quarter. McAdam LLC acquired a new position in Waldencast during the 3rd quarter worth approximately $62,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Waldencast in the 2nd quarter valued at approximately $85,000. 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.