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

Waldencast (NASDAQ:WALD)‘s stock had its “outperform” rating reiterated by investment analysts at Telsey Advisory Group in a report released on Wednesday,Benzinga reports. They currently have a $6.00 target price on the stock. Telsey Advisory Group’s target price points to a potential upside of 81.27% from the stock’s current price.

Several other equities analysts also recently commented on the stock. TD Cowen began coverage on shares of Waldencast in a research note on Monday, December 16th. They issued a “hold” rating and a $4.30 price objective for the company. Canaccord Genuity Group upped their price target on shares of 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 shares of Waldencast from $7.25 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.76.

Waldencast Stock Performance

Shares of Waldencast stock opened at $3.31 on Wednesday. The company has a 50 day moving average of $3.24 and a 200-day moving average of $3.47. Waldencast has a 1-year low of $2.41 and a 1-year high of $7.54. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On Waldencast

Several institutional investors and hedge funds have recently added to or reduced their stakes in WALD. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Waldencast by 293.9% during the third 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 period. SG Americas Securities LLC acquired a new stake in shares of Waldencast during the fourth quarter worth $42,000. Stonebrook Private Inc. acquired a new stake in shares of Waldencast during the fourth quarter worth $48,000. Ethic Inc. bought a new position in Waldencast during the fourth quarter worth $56,000. Finally, Wells Fargo & Company MN boosted its stake in 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 acquiring an additional 3,358 shares in the last quarter. 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.