Waldencast (NASDAQ:WALD) Given “Outperform” Rating at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Waldencast (NASDAQ:WALD) in a report released on Wednesday morning, Benzinga reports. They currently have a $6.00 price objective on the stock.

Separately, DA Davidson boosted their price objective on Waldencast from $6.50 to $7.25 and gave the company a buy rating in a report on Wednesday, September 4th.

Waldencast Stock Performance

Shares of Waldencast stock opened at $3.44 on Wednesday. Waldencast has a 1 year low of $2.40 and a 1 year 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 moving average price of $3.38 and a 200 day moving average price of $4.17.

Hedge Funds Weigh In On Waldencast

Several institutional investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in Waldencast in the second quarter valued at $37,000. Catalina Capital Group LLC purchased a new position in shares of Waldencast in the 1st quarter valued at about $73,000. Cubist Systematic Strategies LLC acquired a new position in Waldencast in the 2nd quarter worth about $85,000. Norden Group LLC purchased a new position in Waldencast during the first quarter worth approximately $92,000. Finally, Bleakley Financial Group LLC acquired a new stake in Waldencast in the first quarter valued at approximately $142,000. 41.97% of the stock is owned by hedge funds and other institutional investors.

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.