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

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."

Telsey Advisory Group restated their outperform rating on shares of Waldencast (NASDAQ:WALD - Free Report) in a report released on Wednesday morning,Benzinga reports. Telsey Advisory Group currently has a $4.00 price target on the stock.

Other analysts have also issued reports about the company. Industrial Alliance Securities set a $5.00 target price on Waldencast in a research note on Tuesday, April 22nd. Alliance Global Partners restated a "buy" rating on shares of Waldencast in a research report on Thursday, May 15th. Canaccord Genuity Group reduced their target price on shares of Waldencast from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Finally, Wall Street Zen cut shares of Waldencast from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One 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.com, Waldencast currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.11.

Waldencast Price Performance

NASDAQ WALD traded up $0.07 during trading hours on Wednesday, reaching $1.80. 2,071,228 shares of the company's stock were exchanged, compared to its average volume of 142,860. The firm has a fifty day moving average of $2.24 and a 200-day moving average of $2.64. Waldencast has a one year low of $1.60 and a one year high of $4.74. The company has a quick ratio of 0.66, a current ratio of 1.35 and a debt-to-equity ratio of 0.21.

Institutional Trading of Waldencast

A number of institutional investors have recently bought and sold shares of the business. Invesco Ltd. acquired a new position in shares of Waldencast in the 2nd quarter valued at $26,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Waldencast in the second quarter valued at about $26,000. Stonebrook Private Inc. acquired a new position in Waldencast in the fourth quarter valued at about $48,000. Ethic Inc. bought a new position in Waldencast during the fourth quarter worth about $56,000. Finally, Wells Fargo & Company MN increased its stake in shares of Waldencast by 29.9% in the 4th quarter. Wells Fargo & Company MN now owns 14,571 shares of the company's stock valued at $59,000 after acquiring an additional 3,358 shares during the last quarter. Institutional investors and hedge funds 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.