Waldencast’s (WALD) Outperform Rating Reiterated at Telsey Advisory Group

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

A number of other equities analysts have also recently weighed in on WALD. TD Cowen began coverage on shares of Waldencast in a research report on Monday, December 16th. They issued a “hold” rating and a $4.30 price objective for 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. Finally, Canaccord Genuity Group raised their price objective on Waldencast from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Waldencast presently has an average rating of “Moderate Buy” and an average price target of $5.76.

Waldencast Price Performance

Shares of WALD stock opened at $3.11 on Wednesday. The firm has a fifty day simple moving average of $3.24 and a 200-day simple moving average of $3.46. Waldencast has a twelve month low of $2.41 and a twelve month high of $7.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 1.47.

Hedge Funds Weigh In On Waldencast

A number of hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Waldencast by 293.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,854 shares of the company’s stock worth $25,000 after buying an additional 5,114 shares during the last quarter. SG Americas Securities LLC bought a new position in Waldencast during the fourth quarter worth $42,000. Stonebrook Private Inc. acquired a new position in Waldencast in the fourth quarter worth $48,000. Ethic Inc. bought a new stake in Waldencast during the fourth quarter valued at $56,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Waldencast by 29.9% during the fourth 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 period. 41.97% of the stock is currently 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.