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

Waldencast (NASDAQ:WALD)‘s stock had its “outperform” rating reissued by equities research analysts at Telsey Advisory Group in a report released on Wednesday,Benzinga reports. They currently have a $4.00 price objective on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 117.39% from the stock’s previous close.

Several other research firms have also recently weighed in on WALD. Alliance Global Partners reissued a “buy” rating on shares of Waldencast in a report on Thursday, May 15th. Canaccord Genuity Group lowered their price target on Waldencast from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, May 15th. Industrial Alliance Securities set a $5.00 price target on Waldencast in a report on Tuesday, April 22nd. Finally, Wall Street Zen cut Waldencast from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.11.

Waldencast Price Performance

Shares of WALD opened at $1.84 on Wednesday. The business’s fifty day simple moving average is $2.26 and its two-hundred day simple moving average is $2.68. The company has a current ratio of 1.35, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. Waldencast has a 12 month low of $1.60 and a 12 month high of $4.74.

Hedge Funds Weigh In On Waldencast

A number of institutional investors have recently bought and sold shares of WALD. Police & Firemen s Retirement System of New Jersey bought a new position in Waldencast in the 2nd quarter worth $26,000. Invesco Ltd. bought a new position in Waldencast in the 2nd quarter worth $26,000. Stonebrook Private Inc. bought a new position in Waldencast in the 4th quarter worth $48,000. Ethic Inc. bought a new position in Waldencast in the 4th quarter worth $56,000. Finally, McAdam LLC bought a new position in Waldencast in the 2nd quarter worth $56,000. 41.97% of the stock is owned by 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.