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

Waldencast (NASDAQ:WALD)‘s stock had its “outperform” rating reaffirmed by research analysts at Telsey Advisory Group in a research note issued to investors on Monday,Benzinga reports. They currently have a $6.00 price objective on the stock. Telsey Advisory Group’s price target points to a potential upside of 85.76% from the stock’s previous close.

Several other research firms have also issued reports on WALD. Canaccord Genuity Group began coverage on Waldencast in a research report on Friday, October 25th. They set a “buy” rating and a $5.00 price target on the stock. Canaccord Genuity Group began coverage on shares of Waldencast in a research report on Friday, October 25th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, DA Davidson boosted their price objective on shares of Waldencast from $6.50 to $7.25 and gave the company a “buy” rating in a research report on Wednesday, September 4th.

Waldencast Price Performance

NASDAQ WALD traded up $0.01 on Monday, hitting $3.23. 35,457 shares of the stock traded hands, compared to its average volume of 130,907. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $3.65 and a 200 day moving average of $3.69. Waldencast has a twelve month low of $2.40 and a twelve month high of $12.00.

Hedge Funds Weigh In On Waldencast

Several institutional investors have recently modified their holdings of the company. Milestones Administradora de Recursos Ltda. boosted its stake in Waldencast by 10.0% during the 3rd quarter. Milestones Administradora de Recursos Ltda. now owns 2,200,000 shares of the company’s stock valued at $8,008,000 after purchasing an additional 200,000 shares during the period. Simplicity Wealth LLC raised its holdings in shares of Waldencast by 416.2% during the third quarter. Simplicity Wealth LLC now owns 77,080 shares of the company’s stock valued at $281,000 after buying an additional 62,148 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Waldencast during the second quarter worth approximately $239,000. Barclays PLC grew its holdings in Waldencast by 301.4% in the 3rd quarter. Barclays PLC now owns 32,436 shares of the company’s stock worth $117,000 after buying an additional 24,355 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its position in Waldencast by 75.2% in the 3rd quarter. Bleakley Financial Group LLC now owns 26,297 shares of the company’s stock valued at $96,000 after acquiring an additional 11,288 shares during the period. Institutional investors own 41.97% of the company’s stock.

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.