Waldencast (NASDAQ:WALD) Earns Outperform Rating from Telsey Advisory Group

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

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

Waldencast Trading Down 3.3 %

Shares of WALD opened at $3.20 on Wednesday. The firm’s 50 day moving average price is $3.24 and its 200 day moving average price is $3.47. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21. Waldencast has a twelve month low of $2.41 and a twelve month high of $7.54.

Institutional Investors Weigh In On Waldencast

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. grew its stake 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 acquiring an additional 5,114 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Waldencast in the fourth quarter worth $42,000. Stonebrook Private Inc. acquired a new stake in shares of Waldencast in the fourth quarter worth $48,000. Ethic Inc. acquired a new stake in shares of Waldencast in the fourth quarter worth $56,000. Finally, Wells Fargo & Company MN grew its stake in shares of Waldencast by 29.9% in the fourth quarter. Wells Fargo & Company MN now owns 14,571 shares of the company’s stock worth $59,000 after acquiring an additional 3,358 shares during the last quarter. Institutional investors and hedge funds 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.