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

Key Points

• Waldencast (NASDAQ:WALD) received an "outperform" rating from Telsey Advisory Group, with a target price of $4.00, indicating a potential upside of 108.33% from its current price.
• Other analysts have varied views: Canaccord Genuity lowered its target from $6.00 to $5.00 with a "buy" rating, while Wall Street Zen moved from a "hold" to a "sell" rating.
• Waldencast's stock is currently trading at $1.92, having a 52-week range of $1.60 to $4.74 and an average analyst rating of "Moderate Buy."

Waldencast (NASDAQ:WALD - Get Free Report)'s stock had its "outperform" rating reiterated by equities researchers at Telsey Advisory Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $4.00 target price on the stock. Telsey Advisory Group's price target indicates a potential upside of 108.33% from the stock's current price.

Other research analysts also recently issued research reports about the company. Canaccord Genuity Group dropped their price objective on Waldencast from $6.00 to $5.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Alliance Global Partners reaffirmed a "buy" rating on shares of Waldencast in a research report on Thursday, May 15th. Wall Street Zen cut Waldencast from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Industrial Alliance Securities set a $5.00 price objective on Waldencast in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $5.11.

Waldencast Price Performance

NASDAQ WALD traded up $0.04 during trading hours on Wednesday, hitting $1.92. 436,912 shares of the company were exchanged, compared to its average volume of 103,872. The company has a 50 day moving average of $2.28 and a two-hundred day moving average of $2.70. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.35 and a quick ratio of 0.66. Waldencast has a 52-week low of $1.60 and a 52-week high of $4.74.

Institutional Trading of Waldencast

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. purchased a new stake in shares of Waldencast during the second quarter worth about $26,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Waldencast during the second quarter valued at approximately $26,000. Geode Capital Management LLC grew its holdings in shares of Waldencast by 62.2% during the second quarter. Geode Capital Management LLC now owns 586,566 shares of the company's stock valued at $1,437,000 after purchasing an additional 224,905 shares during the last quarter. McAdam LLC bought a new position in shares of Waldencast during the second quarter valued at approximately $56,000. Finally, Rhumbline Advisers grew its holdings in shares of Waldencast by 15.2% during the first quarter. Rhumbline Advisers now owns 61,630 shares of the company's stock valued at $185,000 after purchasing an additional 8,151 shares during the last quarter. 41.97% of the stock is owned by hedge funds and other institutional investors.

Waldencast Company Profile

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.

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