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

Waldencast (NASDAQ:WALD)‘s stock had its “outperform” rating reiterated by investment analysts at Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They presently have a $6.00 price objective on the stock. Telsey Advisory Group’s price target points to a potential upside of 91.69% from the stock’s previous close.

WALD has been the topic of several other reports. TD Cowen initiated coverage on Waldencast in a research report on Monday, December 16th. They set a “hold” rating and a $4.30 price target on the stock. Canaccord Genuity Group upped their price target on Waldencast from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, DA Davidson upped their price target on Waldencast from $7.25 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Waldencast has a consensus rating of “Moderate Buy” and an average price target of $5.76.

Waldencast Stock Down 2.2 %

NASDAQ:WALD opened at $3.13 on Wednesday. Waldencast has a 1-year low of $2.41 and a 1-year high of $7.54. 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 business’s fifty day moving average price is $3.24 and its 200 day moving average price is $3.47.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. increased its position in Waldencast by 293.9% in the 3rd 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 last quarter. SG Americas Securities LLC acquired a new position in Waldencast in the 4th quarter worth about $42,000. Stonebrook Private Inc. acquired a new position in Waldencast in the 4th quarter worth about $48,000. Ethic Inc. acquired a new position in Waldencast in the 4th quarter worth about $56,000. Finally, Wells Fargo & Company MN increased its position in Waldencast by 29.9% in the 4th quarter. Wells Fargo & Company MN now owns 14,571 shares of the company’s stock worth $59,000 after purchasing an additional 3,358 shares during the last quarter. 41.97% of the stock is owned by institutional investors and hedge funds.

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.